The order queuing mechanism on the ASX is now permanently broken thanks to ASX/ASIC implementation of the NBBO system.
The Top 2 retail brokers will probably do ok as traders are forced to move to their platforms to mitigate the order queue risk introduced by the NBBO system.
After all, traders want to be into and out of a stock quickly and want to buy when retailers are selling and sell when retail are buying, so they wont tolerate the new queuing system where there orders are simply gazumped by comsec/etrade orders.
Smaller brokers are doomed! Doomed I tell you. ASIC/ASX have rung the death knell for competition in the retail broking industry.
Guess they don't care. From their perspective it is all a rigged game to fleece spare cash from retail investors anyway.
