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In 2010, internalizers ABSOLUTELY, WITHOUT QUESTION, priced retail investor orders with SIP prices (the feed that got way behind). What the NYSE was doing: ABS
by nanexllc 11y ago
In 2010, internalizers ABSOLUTELY, WITHOUT QUESTION, priced retail investor orders with SIP prices (the feed that got way behind). What the NYSE was doing:
ABSOLUTELY. POSITIVELY. Impacted retail investors and mutual funds.
- consz 11y agoShouldn't internalizers be required to use direct feeds instead of the SIP? The SIP, by construction, will always be lagging the 'real' (if that even means anything) NBBO.
- nanexllc 11y agoInternalizers use both. The give retail the slower price, and buy and sell on their own account at the faster price. Nanex has uncovered a document from the NYSE stating that this is the case.
- consz 11y agoLet me be more clear -- if internalizers are regulated to use anything, why aren't they regulated to use the direct feeds specifically? If the regulation specifically allows them to use the SIP, that seems to be a failure of the regulation itself.