Last Man Standing
WATERS SOAPBOX
The greatest beneficiary of the market consolidation and the regulations born of the recently passed Regulation National Market System (Reg NMS) will be the trading community. The fewer, deeper pools of liquidity mean a more efficient market, and the access price caps dictated by Reg NMS will prevent price gouging from the market centers. The reduced number of direct market access connections that firms need to support will yield cost savings. Of course, no one is going to see these savings
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