[This message was posted by John Harris of BondMart Technologies, Inc. <[email protected]> to the "US Regulations" discussion forum at http://fixprotocol.org/discuss/48. You can reply to it on-line at http://fixprotocol.org/discuss/read/2db22490 - PLEASE DO NOT REPLY BY MAIL.]
Mahesh, Government regulation is anti-competitive in purpose and design. Restraining competition to protect the market positions of incumbents is the entire point of the exercise. The leaders of every new industry will eventually clamor for regulation to raise barriers to entry and socialize the cost of consumer search. Of course regulation isn't sold that way - if its supporters told the truth, regulation would have no political support. If people could trade securities directly, they wouldn't need brokers. The U.S. securities markets are so rigged in favor of incumbents that it is illegal for ordinary folks to form a securities exchange. Only broker-dealers and persons associated with broker-dealers enjoy that privilege. Best, John > Hi John, > > Continued from http://fixprotocol.org/discuss/read/84880800 > > I would like to understand why US government forbids trading stocks on > classifieds. > > Regards, > K. Mahesh [You can unsubscribe from this discussion group by sending a message to mailto:[email protected]] -- You received this message because you are subscribed to the Google Groups "Financial Information eXchange" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/fix-protocol?hl=en.
