Some of the largest companies in the US are speaking out against a proposal by Bats, the stock exchange recently acquired by the Chicago Board Options Exchange, to shake up end-of-day trading. FedEx, P&G, and Cardinal Health are among the NYSE-listed firms that have sent letters to the Securities and Exchange Commission opposing Bats Market Close. The new offering would allow NYSE and Nasdaq-listed securities to be matched on Bats at the end of the trading day. The proposal is a direct attack against the New York Stock Exchange and Nasdaq model, and it comes at a time when more and more trading is conducted at the end of the day. According to Bats, closing auction fees have increased by 16% to 60% at the NYSE and Nasdaq, and the exchange operator hopes that Bats Market Close will increase competition.
In the central banking system government regulations require monopoly exchanges to clear closing prices. Government gets a value added chain to distribute debt which requires that free entry and exit are closed. Thus, government guarantees currency value.
Kanosians will tells us that we have to have insurance for wealthy people, as they pass the costs back onto us, without our knowledge. That is why the wealthy get wealthier, little brown people believe Kanosians, a very bad bet.
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