September 25, 2014
SECURITIES AND EXCHANGE COMMISSION
(Release No. 34-72549; File No. SR-NASDAQ-2014-069)
July 7, 2014
Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Modify NASDAQ Rule 7018 Fees
page 3
"Also, the Exchange believes it is reasonable to use pricing incentives, such as a new tier, because this new tier provides additional opportunities for members to increase their participation in the market."
this is an interesting statement. who are they encouraging? high volume brokers? high frequency traders? frequent shortsellers?
my broker is not passing any discounts along to me, a retail investor who does not frequently trade. so investors are not encouraged by these new pricing incentives.
why is all this "liquidity" needed in the market? perhaps this is just another rebate intended to go to shortsellers to reduce the demand in the market for shares. investors do not need incentives to trade. all the speculative trading is skewing the supply/demand curve for stocks.
disclosure through filing these rule proposals is insufficient to inform all investors that the equities marketplace is skewed in favor of short-term speculators. while NASDAQ views increased volume as "good", the investors view increased speculation as "bad" because non-owners/short-term owners do not add value to the market.
the rebates should be ended immediately.
this rule proposal violates transparency and a fair marketplace for investors provisions of dodd-frank and the SEC mission statement.
suzanne hamlet shatto
investor