/biz/ - Business & Finance

This just in.. the NYSE is trying to fuck us over
>https://www.federalregister.gov/documents/2022/08/10/2022-17100/self-regulatory-organizations-nyse-american-llc-notice-of-filing-of-amendment-no-1-and-order#footnote-6-p48716
This will allow the New York Stock Exchange to take any order and potentially have a wholesaler (think citadel or virtu) fulfill it. This means they could exempt the order to create shares that shouldn't exist, synthetics, bad faith iou's etc.
The off-exchange venue will decide entirely whether or not an order is eligible. This means, again, a wholesaler venue (if chosen at NYSE discretion) could use their exemptions to create shares that do not exist to fulfill the transaction.
In essence, you'd just own nothing and hold something they've created and most likely can manipulate however they want as they created it.
You diamond hand and they can sell it over and over until the end of time most likely even if you've registered your shares.