There seems to be a discrepancy within the industry as to the difference between a “rebate” and a “discount”. A quick google search produces these definitions: Rebate – a partial refund to someone who has paid too much money for tax, rent, or a utility. Discount – a deduction from the usual cost of something, typically given for prompt or advance payment or to a special category of buyers. In other words, rebates involve cash being sent back to someone while a discount is a reduction of a fee that is still charged. Last week, IEX announced a new incentive program (more…)

  NYSE has decided to reopen the National Stock Exchange which it bought last January.  According to their 798 page SEC filing, the new exchange will be known as NYSE National and will begin operations in the second quarter of this year.  The stock exchange landscape now consists of 13 exchanges: The NYSE Family – NYSE, NYSE Arca, NYSE American and NYSE National The Nasdaq Family – Nasdaq, Nasdaq BX, Nasdaq PSX The Cboe Family – BATS, BATY, EDGX, EDGA IEX Chicago Stock Exchange We looked through the 798 page regulatory filing and it appears that NYSE National will be borrowing heavily from NYSE Arca and (more…)