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The cost of doing business has been reduced to almost
nothing over the past few years. When the concern is
over $1 on a $16K order nobody is listening, least of
all the SEC.
--- EarlA <earl.a@xxxxxxxxxx> wrote:
> So you penalize the small traders because they don't
> deal in 50 contracts at
> a time. The small traders pull back and now there is
> less liquidity ... but
> then the only good liquidity is liquidity provided
> by market makers ... what
> a crock. So too is the assumption that brokerage
> firms will not pass along
> the fee because they won't get hit with it 98% of
> the time. When you have a
> brokerage firm which runs razor thin commissions,
> they are going to assume
> that they will get hit with it because they can't
> afford to assume that they
> won't. Yes, maybe the fat cat brokerage firms like
> Schwab and Fidelity,
> which charge high commissions can eat the fee, but
> so what. And you can kiss
> GTC orders via the deep discount firms goodbye
> because their customers will
> get hit with a cancellation fee for canceling or
> modifying the order.
>
> I pay $1.00 to IB to execute one $16,000 contract
> for a deep in the money
> SPX Put and you guys charge me $1.20 to cancel an
> order ... what a deal!
>
> I can't wait to return the call I received from the
> SEC today!
>
> Earl
>
>
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