Basically, no liquidity providers. Just customer to customer matching. If a bank wants to make markets, they can just sign up like everyone else.
It'd be pure profit - no negotiating with third parties. No data feeds. Nada.
The commission structure would have to be transparent though. Just a table with volume and $/mio. You wouldn't be allowed to negotiate a personal commission rate.
Some might argue the liquidity would be poor ... I disagree. There are some pretty sophisticated indie market makers out there. I think they'd fill the vacuum pretty quick.
Anyways, it'd be pretty cool, and very transparent.
It'd be pure profit - no negotiating with third parties. No data feeds. Nada.
The commission structure would have to be transparent though. Just a table with volume and $/mio. You wouldn't be allowed to negotiate a personal commission rate.
Some might argue the liquidity would be poor ... I disagree. There are some pretty sophisticated indie market makers out there. I think they'd fill the vacuum pretty quick.
Anyways, it'd be pretty cool, and very transparent.