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“It is the purpose of the Legion of Doom to align our infamous forces against the powers of good and defeat them, leaving us the rulers of the world.” – Lex Luthor Do you remember the Legion of Doom from the 1970’s “Super Friends” animated series? The Legion was composed of 13 members that were brought together by Superman’s nemesis, Lex Luthor, to defeat the Super Friends. They would often meet deep in the swamp at the Hall of Doom to develop their plot to take over the world. Well, it looks like a new Legion of Doom is being formed
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We continue to think that SEC’s sub-penny tick size proposal is a bad idea because it will likely result in visible quote fragmentation and volatility, sub-penny quote-jumping, flickering quotes and increased message traffic. While some stocks may warrant consideration of a smaller tick size, we think any suggestion of reducing the tick size to $0.001 or $0.002 is a bad idea. Why did the SEC propose $0.001 and $0.002 tick sizes? According to the SEC’s proposal, here are a couple of reasons why they proposed sub-penny ticks: “One reason why the Commission chose the particular tick size cutoffs in this proposal
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