April 13, 2010
Sub - pennying is not fair to all market partcipants when everyone cannot take part in it. Markets are suppose to be fair and orderly and the current structure with sub-pennying is far from that.
Why not go back to penny increments for everyone including all institutions and broker dealers. The only advantage of sub-pennying is the firms that are making billions of dollars on it while taking advantage of others that are trying to make a living at it. It is flat out wrong and something needs to be done about it.