Friday, May 05, 2023 10:45:01 AM
IMO, its about keeping Buy Transactions off the Tape. The drop from 5 to .00045 makes it a Neutral transaction not a Buy, discouraging shareholders, hoping more will Sell. Especially effective on low volume days like yesterday, changing the Tape from 4 Buys totaling 233k and 3 Sells totaling 37k to 1 Buy at 40k , 3 Sells totaling 37k, 3 Neutral totaling 233k.
No Need to worry about the MMs paying the electric bill. Citadel, who handles the lions share of OTC transactions, had profits of $16 billion in 2022.
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