Janis - if you really wanted to help out the “average” :) investor, to help level the playing field, to help limit corruption in the system, to help prevent company scams....
Why don't you help US by using your influence, your “notoriety” (sorry couldn't resist), your knowledge and your obvious energy to change the system completely.
Let's have a ECN system run by the SEC “directly” for “all” publicly traded stocks, a fair system that...
requires complete and accurate company reporting and accountability, with STRONG penalties for non-compliance (large fines and jail time?)
would make SEC investigations much easier on manipulation, scams, etc...
would make the A/S and O/S known at all times. Companies (or their T/A's) would be required to keep this information and all required information up to date for the ECN system at all times
is based on Supply and Demand, that does not allow shorting of any kind, that requires verified ownership of a stock before you can sell/trade it, a "fairly" simple computer program based on a bid/ask price matched FIFO system would do such :) no middlemen, direct matching of buyer with seller only
would eliminate third party manipulation (individual investors will always try to manipulate the system by setting High sell prices and Low buy prices)
would provide one (1) real-time quote system, eliminate the level 1, 2 and 3, etc... of the current system
allow for the investor to do away with their broker and deposit into the Electronic system (I would not but you could, want to keep as many layers between my business and the SEC/Government as possible) and trade directly through the system
would allow for IPO information to still be done through a third party Firm and then placed on the Electronic system based on fair evaluation
Janice except for the “sorry couldn't resist” above, I'm being serious.
I would not only welcome your energies focused on a system like outlined above, making a truly unique and beneficial change for ALL investors, heck I would be your number one supporter if you did such.
Maybe I'm just talking to the .... well you get the idea.
But maybe not.
AI
