Did.... did Virtu write this? Signed an Armchair Market Structure Expert that has been trading for at least 3 years. or 30.https://twitter.com/HideNotSlide/status/1423288632153104384 …
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Replying to @ThemisSal
I respect your opinion & am genuinely interested to hear where you disagree & why!
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Replying to @HideNotSlide
look at exhibit A in particular. https://financialservices.house.gov/uploadedfiles/hhrg-117-ba00-wstate-arnuks-20210317.pdf … I am genuinely surprised by your post. Never mistake the fact that regulators are captured, and bad things are allowed... for what is right and wrong.
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Replying to @ThemisSal @HideNotSlide
Will Robinhood still succeed? Yes. Will MMs make a SHTTON of $? Yes. Will retail fizzle out? See dotcom GFC crisis etc. Cycles. Will my opinion matter to anyone? No. I know all that too.
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Replying to @ThemisSal
Thanks for linking. I agree with a lot of what you argue (RH changing PFOF structure to % of spread is not okay, as u say). 1 question - your argument makes 100% on-exchange trading seem like the best option. Won't exchange monopolies increase trading costs?
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Replying to @HideNotSlide @ThemisSal
As I understand it PFOF was implemented way back when to take power away from exchanges. Giving the power back to exchanges doesn't seem like a cost-lowering solution imo
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Replying to @HideNotSlide
You can cozy up and enjoy the back slapping of Very Important Industry People who will cheer your thread. But deep down you will know the truth. Why? Because you are not dumb.
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i am legitimately trying to understand a complex issue and I appreciate your thoughts either way
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