The imagine brokerages are starting deal directly with and for their clients. One wants to buy 15 shares at 110gg another wants to sell 20 at 108gg or better. The brokerage gives 15 of the 20 to the buyer, pockets the difference and places the remaining 5 shares on the open market.
I'm not sure what you're saying makes sense here Robert. You are too used to dealing with conventional ecn systems.
It would be IMPOSSIBLE TO RUN a brokerage for TGC shares.
Say I started May Brokerage and through MB (using our amazing ONLINE SYSTEM!) you could buy TGC shares.
What possible reason would there be to use May Brokerage ????
Any user can ALREADY instantly have access **TO THE ECN**, to the Island, Robert - see?
So there is no conceivable value in a brokerage.
Analogy (Jim Ray will like this): setting up a brokerage for dbourse would be like setting up "MERCHANT ACOUNT PROVIDERS FOR E-GOLD" Use my service, we can offer real MERCHANT accounts for egold! No sense. that's why there are intermediaries who offer merchant accounts for credit cards, but it is impossile to do that business model for e-gold.
You can't take friction away from a frictionless system.
(If etrade started dealing on DBourse for its exciting single issue, and indeed etrade allowed gold-denominated balances, it would be convenient purely in as much as your one etrade account would allow you to buy both NSFT and TGC. thats convenient, but only in the sense that it would be "more convenient" if DBourse added automated funding, its not conceptually convenient.)
Here's a fact - DBourse is (the first?) pure 100% efficient market, because of two reasons: (a) there is no concept of an ecn, everyone using it is a brokerage and (b) due to the instant & not-reversible nature of internet gold
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