Commentary

Rob Daly
Traders Magazine Online News

OPINION: HFTs Not to Blame for 'Flash Crashes'?

Is it unfair to lay the blame of the worst market-structure characteristic at the feet of high-frequency traders?

Traders Poll

Do you know what a security token is exactly?




Free Site Registration

March 23, 2005

NYSE Execs Wants Payments' Banned

By Gregory Bresiger

Payment for order flow should be ended, Robert Britz, president and co-chief operating officer of the NYSE, wrote in a footnote to his recent Congressional testimony. "Such payments interfere with the ability of retail orders to interact with each other and obtain the best execution price," he wrote. "In payment for order flow arrangements, individual investors rarely get the opportunity for an execution at the midpoint of the spread or better."