April 21, 2016
April 21, 2016
I think the Commission should immediately suspend any changes being made at ARCA, given their decision to no longer provide free public access to their daily short volume reports that every single US Exchange provides now and which has since the SEC and the exchanges agreed to make that data public 7 years ago in exchange for a market maker exemption under REGSHO.
Furthermore, I find it personally reprehensible that NYSE ARCA has the audacity to not only deny the public the access it agreed to make available 7 years ago, but that in a single day, with no notice given the Commission nor the public, raise their price from the agreed to "FREE" to a minimum $500.00 per month with a 12 month commitment or $1000.00 per month depending on "which plan you choose"
THAT is one helluva price increase dont you think? $6000 - 12000.00 per year today, for what had been free this past Friday, which is now denied to the public without notice or application to do so.
Their decision to do this renders to cumulative daily short data from all the other exchanges pointless, making it impossible to calculate the daily short volume for any stock....and with the market makers now in possession of an exemption that decriminalizes the crime in a sense, and with no accountability with the public banned from the information, they are creating a worse situation for another attack on Financial institutions and all companies through abusive naked short selling, that the commission went to great lengths to change in 2008-09.
They are being driven by greed, so I say, give them nothing until they give back what they promised they would give. They reneged on the deal. They spat in the face of the US investors and the Commission itself.
Show them the same courtesy.