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TLDR: The SEC is trying to put the kibosh on Payment For Order Flow (e.g. what Robinhood abuses)

TLDR: The SEC is trying to put the kibosh on Payment For Order Flow (e.g. what Robinhood abuses)

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[–] 0 pt (edited )

aimed at boosting transparency and fairness while increasing competition for individual investors' stock orders

Seriously? Why now? I'm not holding my breath on this one. The virtue signaling is because most of the muppets have exited the market. In effect, the scam artists are betting against themselves.

proposals include requiring marketable retail stock orders to be sent to auctions before they are executed,

Wait! Isn't the current system of market makers and order books designed to do this already?

a new standard for brokers to show they get the best possible executions for client orders

LOL.

lower trading increments and access fees on exchanges, the SEC said.

What? Didn't Robbinhood offer "free" trades?

We feel that these reforms, if enacted, will ultimately help the price discovery process and save investor’s money

LMFAO! So your feelings matter? How can you quantify this? No, all you're doing is virtue signaling.

Allowing orders to interact with each other, rather than segmenting them, will enhance competition and yield better prices.

Trust us, it's safe and effective. LOL. I'd find it amusing to hear the explanation of "order interactions" and how this would effectively change anything.

Under current practice, retail brokers send most such orders to wholesale brokers, sometimes for a fee.

This is called paying for order flow. "Sometimes?" This article is fucking hysterically funny!

The changes, if adopted, would represent the biggest shakeup to stock market rules since the SEC introduced

Please stop! I can't laugh anymore. This is hilarious. This is all stupid nonsense and double talk.

Ok, you want real market reform? Stop allowing market makers from betting against their customers. <crickets> Stop HFT completely. Stop allowing trades for commodities. Make trading fees uniform for everyone. This would essentially end HFT. Don't give politicans exemptions from insider trading. Impose caps for AUM (assets under management). Firms like Black Rock are too big to exist.

What? You don't like my suggestions?