Five cent spreadsSoooo.... I gets this call from my broker, see, and he tells me that my GTC order will be cancelled because NASDAQ is conducting an experiment in which the bid and ask price have to be US.05 increments, and MDM (lucky MDM) is one of the issues on which this experiment will be conducted, and my price is not on their "allowed" list. After I blistered the ear of whomever made the call, I told them in no uncertain terms that I thought the concept of nickel spreads was asinine, tell their VPs that this customer is pissed that NASDAQ is even trying such a concept.
So, kimber, that's why the spreads are a nickel now, it's an "experiment" by the US exchange.
https://www.wsj.com/articles/fifteen-years-after-decimalization-tick-size-widening-for-some-small-company-stocks-1475421141
So that's why...