Dec. 26, 2022
December 26, 2022
Dear Gary,
Merry Christmass
Wholesalers should be banned, deleted, removed forever from the stock market.
You can not have a system that allows orders to vanish into internalized companies that can generate infinite liquidity and get away with it.
Here's an idea for order competition:
None.
All orders should go to the lit exchange that the trading company has been listed on.
With all these big institutions BEING the market, you can not fix it untill removing the corruption that has been rotting in the financial system for decades and decades.
Middlemen just add costs, obscure transactions, corrupt integrity and opens the door to what we have now.
If at all, the SEC should be running order routing and best execution price instead private firms with their monopolies and criminal cartels running amock.
Lets take the blockchain for example:
As you pretty well know, there is no middle men besides the ones doing the transaction processing.
This is how it should be, fair market value, transparancy, less corruption and cheaper trade costs when it all goes to the lit exchange where the company decided to list it's shares.
It makes absolutely no sense of why there are a dozen exchanges doing trading in stocks that they did not list at and like MEMX, being the GameStop $800 call option liquidity fairy.
Greetings