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MrRodgers -> RE: Why a wall street ? Why ? (2/23/2011 4:49:00 AM)
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quote:
ORIGINAL: Musicmystery
How is having a seat on the exchange going to help you compete?
You're still going to be trading at market value.
Having a seat on the exchange allows on the opportunity to directly broker stocks and make sales commissions. It allows your brokerage to take a position in stocks even issue IPO's. There can be $millions in revenue with a seat on the NYSE. Those seats sell for millions but is a hard market to peg now because most seats only become available through a brokerage bankruptcy.
If most seats are transferred that way...hard to value them retail. A NYSE seat as of 2005 was about $4 to $5 million. Oh BTW, I compete by lowering my charges to buy and sell stock. Commissions for 100 share blocks to my knowledge at one time ranged from 8-10% are now down to as little as 3%.
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