In my opinion the ranting and raving against this type of thing is a total waste of time. Not being a client of TD, I can't speak to the method in which they have introduced this, but as for the requirement to sign agreements with exchanges - standard practice for anyone signing up for real time data delivery.
If the arguement is that someone could change NASD rules and make you pay 300$ per quote, well, its time to find the bomb shelter because all of a sudden the market stops working anyways. Plus if you think that NASD, the SEC, the OSC, BCSC or any other regulator or self regulating organization (SRO) involved in the market is fast enough to pull a significant, onerous, regulation change over the entire investing and trading public...
... well, that's just ludicrous.
They don't move that fast!
In the meantime, clear thinking people will just sign it and continue buying and selling, like they have for decades.
Regards,
Michael
PS: I'm Canadian. Happy about it. But have signed Nasdaq, NYSE, Amex, CME, CBOT, etc ad nauseum agreements for years, without a moments thought.
And yes, I know how to read a contract, and yes, there are times when it is important to read a contract and attack it. This is not one of them. |
