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Here's a fascinating article from Bloomberg on the effects of changing option spreads to a penny:

Kevin Fischer spent 17 years as a floor trader at the Philadelphia Stock Exchange until Interactive Brokers Group Inc. moved him to its headquarters in Greenwich, Connecticut.

Now he sits in front of a computer screen, creating a trading system to help investors use algorithms, sets of rules calculating the best time and price to buy or sell securities. Fischer is caught in the middle of a regulatory change that's throwing about $1 billion of commissions up for grabs annually and putting Interactive, the world's largest options broker, on the defensive.

Posted by edelfenbein at March 19, 2007 12:37 PM