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For all those who think this is only posturing. Remember where there is smoke
there is fire. This sounds like the first salvo towards changing the
prevailing system. I was a member of the NYSE for over 20 years and saw the
advent of more and more electronic trading. It must be incorporated in order
to keep up with the increasing volume.
Also, if I was in a regulatory position I would keep pushing for more and
more electronic capability to keep the exchanges more competitive and in a
position to attract volume as well as to lessen the temptation of floorbrokers
who have "order flow" to trade ahead of these orders at the expense of the
customer order. This is the latest "scandal" to hit the exchanges. Thus, due
to the greedy,dishonest few the complexion of the exchanges as we know them
will soon be a thing of the past. Call it progress or call it surveillance but
it is happening now.
JAC1390@xxxxxxx
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