3. Sub-Penny Pricing Regulation NMS would ban sub-penny quoting in most stocks. Specifically, it would prohibit market participants from accepting, ranking, or displaying orders, quotes, or indications of interest in a pricing increment finer than a penny in national market system stocks, >>>> other than those with a share price below $1.00. <<<<
This proposal is intended to prevent sub-penny pricing from being used by some market participants to "step-ahead" of customer limit orders for an economically insignificant amount. This "sub-pennying" could, over time, discourage investors from placing limit orders, which are an important source of market liquidity.
quote:Originally posted by derek111c: This news sucks banning of subpenny stockquotes. I can't believe the nerve
posted
As usual, the RB crew of Bashers and partial infomation posters are making something out of nothing. If you would like to read the filing and get the TRUTH..... http://www.sec.gov/news/press/2004-22.htm
It actually sounds like a good thing.....and NO it DOES NOT effect stocks below $1.00.:-) Have a GREAT day, Carry on.....
------------------ Nothing's more fun than a Subs stock run!!!
posted
Thanks, Dallas. I looked on theSEC site as soon as I saw the article but could find nothing. I guess they'd not updated the site with the PR yet. Another example on how the new wires put out imcomplete information.
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