• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

NYSE like a drugged bull in bullfight over share orders, exchange president says

October 7, 2021 by David Barret Leave a Comment

October 7, 2021

By John McCrank

NEW YORK (Reuters) – The head of the New York Stock Exchange on Thursday called for regulators to change rules that make it difficult for the NYSE to compete for stock orders, as the market share of exchanges has dwindled versus off-exchange trading platforms during the retail trading boom.

“On exchange, we are artificially constrained from competing for pretty much half of the market,” said Stacey Cunningham, president of Intercontinental Exchange Inc’s NYSE.

“It’s like we’re in a bullfight, and sure, you can beat the price on an exchange if you’ve drugged the bull and starved him for two weeks,” she said at an annual conference held by the Securities Traders Association.

U.S. Securities and Exchange Commission Chair Gary Gensler has said his agency is revisiting regulations he says may create an unequal playing field https://ift.tt/3imt6ZC for exchanges versus broker dealer-run trading platforms.

One rule the SEC is reviewing is referred to as the “sub-penny rule.” It prevents exchanges from displaying bid and offer quotes in increments smaller than a penny, whereas off-exchange trading platforms can offer fractional, sub-penny price discounts to exchange prices, which is attractive to retail brokers that are required to get their clients the best prices.

The rule was enacted in 2005 over concerns that if smaller pricing increments were allowed, sophisticated traders might use them to jump ahead of retail orders.

In 2021, the vast majority of retail orders have been executed through wholesale brokers.

Retail trading, which has surged in recent years during the work-from-home environment and as online brokers dropped trading commissions, accounts for slightly more than 20% of market volume, versus just over 10% in 2018, according to wholesaler Virtu Financial.

(Reporting by John McCrank; Editing by Dan Grebler)

Source Link NYSE like a drugged bull in bullfight over share orders, exchange president says

David Barret
David Barret

Related posts:

  1. Republican Cheney named as vice chair of U.S. House panel investigating Jan. 6 attack
  2. Point raises $46.5 million for its premium debit card
  3. Onin is trying to fix event planning by combining calendar and chat
  4. S&P 500 on track for worst day in four months

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Martian Mudstone Has Features That Might Be Biosignatures, New Brain Implant Can Decode Your Internal Monologue, And Much More This Week
  • Crocodiles Weren’t All Blood-Thirsty Killers, Some Evolved To Be Plant-Eating Vegetarians
  • Stratospheric Warming Event May Be Unfolding In The Southern Polar Vortex, Shaking Up Global Weather Systems
  • 15 Years Ago, Bees In Brooklyn Appeared Red After Snacking Where They Shouldn’t
  • Carnian Pluvial Event: It Rained For 2 Million Years — And It Changed Planet Earth Forever
  • There’s Volcanic Unrest At The Campi Flegrei Caldera – Here’s What We Know
  • The “Rumpelstiltskin Effect”: When Just Getting A Diagnosis Is Enough To Start The Healing
  • In 1962, A Boy Found A Radioactive Capsule And Brought It Inside His House — With Tragic Results
  • This Cute Creature Has One Of The Largest Genomes Of Any Mammal, With 114 Chromosomes
  • Little Air And Dramatic Evolutionary Changes Await Future Humans On Mars
  • “Black Hole Stars” Might Solve Unexplained JWST Discovery
  • Pretty In Purple: Why Do Some Otters Have Purple Teeth And Bones? It’s All Down To Their Spiky Diets
  • The World’s Largest Carnivoran Is A 3,600-Kilogram Giant That Weighs More Than Your Car
  • Devastating “Rogue Waves” Finally Have An Explanation
  • Meet The “Masked Seducer”, A Unique Bat With A Never-Before-Seen Courtship Display
  • Alaska’s Salmon River Is Turning Orange – And It’s A Stark Warning
  • Meet The Heaviest Jelly In The Seas, Weighing Over Twice As Much As A Grand Piano
  • For The First Time, We’ve Found Evidence Climate Change Is Attracting Invasive Species To Canadian Arctic
  • What Are Microfiber Cloths, And How Do They Clean So Well?
  • Stowaway Rat That Hopped On A Flight From Miami Was A “Wake-Up Call” For Global Health
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version