These fucking idiots do realize $.005 doesn’t actually exist except in their minds.
But here’s some math:
If a hedge fund makes 50,000,000,000 transaction per day and can now* make money on $.005 per transaction… do I even need to do the math for everyone to recognize how much extra money they can profit, per day, from this lubricious decision.
Because I challenge anyone… go spend 100.5 pennies.
In fact, if you “cut” a penny in half you *could* go to prison for defacing US currency.
*probably already have trained their HFA/AI models and hence why the SEC decision needed to be made… because the hedge firms explained to the SEC how much money they’ve already spent training their models to perform half penny calculations and trades…
..so the SEC needed to contemplate this behind the Wendy’s dumpster all weekend. I bet Gary Gensler’s mouth is feeling well used this morning.
brock2063 on
Would this be bullish for Schwab or Robinhood since they make money on the bid/ask spread? I’m kinda noob on this area of the stock market so I could use a ELI5.
improbably-sexy on
Just make it a double float. What’s the worst that could happen?
Vi0lentByt3 on
Cant wait for the .1 penny trades coming soon, heck why even care about whole values in the currency denomination of your asset, lets just trade really big numbers so asset managers can just make however much money they want
seanb_117 on
So I’ll be able to throw my 2 cents into everything?
that_noodle_guy on
Weren’t stocks already quoted out to 4 decimals in some cases? Or am I imagining things?
Lord_Despair on
Now just to implement 10 share options instead of 100 shares
rainmaker66 on
This is not meant for retail guys, more for pooling back large boys using dark pools.
spacecadet501st on
Seems like this only benefits HFT
Particles1101 on
This is because PFOF isn’t as profitable as they would like it to be OR they just want even more money for reasons.
relentlessoldman on
That’s dumb
SwitchedOnNow on
I’m so old I remember when everything was traded in fractions!
Optionzdegen on
Now do 0.5DTE 
usuallyGoodNatured on
Who benefits from this besides high-frequency traders using machines?
16 Comments
Finally, I can lose money more accurately
Half-Penny 0DTE will be very interesting 😀
These fucking idiots do realize $.005 doesn’t actually exist except in their minds.
But here’s some math:
If a hedge fund makes 50,000,000,000 transaction per day and can now* make money on $.005 per transaction… do I even need to do the math for everyone to recognize how much extra money they can profit, per day, from this lubricious decision.
Because I challenge anyone… go spend 100.5 pennies.
In fact, if you “cut” a penny in half you *could* go to prison for defacing US currency.
*probably already have trained their HFA/AI models and hence why the SEC decision needed to be made… because the hedge firms explained to the SEC how much money they’ve already spent training their models to perform half penny calculations and trades…
..so the SEC needed to contemplate this behind the Wendy’s dumpster all weekend. I bet Gary Gensler’s mouth is feeling well used this morning.
Would this be bullish for Schwab or Robinhood since they make money on the bid/ask spread? I’m kinda noob on this area of the stock market so I could use a ELI5.
Just make it a double float. What’s the worst that could happen?
Cant wait for the .1 penny trades coming soon, heck why even care about whole values in the currency denomination of your asset, lets just trade really big numbers so asset managers can just make however much money they want
So I’ll be able to throw my 2 cents into everything?
Weren’t stocks already quoted out to 4 decimals in some cases? Or am I imagining things?
Now just to implement 10 share options instead of 100 shares
This is not meant for retail guys, more for pooling back large boys using dark pools.
Seems like this only benefits HFT
This is because PFOF isn’t as profitable as they would like it to be OR they just want even more money for reasons.
That’s dumb
I’m so old I remember when everything was traded in fractions!
Now do 0.5DTE 
Who benefits from this besides high-frequency traders using machines?