[pbhjpbhj]

I just looked at transaction costs on 2 exchanges and they were both at 0.2% for < $1000. One offered reductions for higher value transactions, the other was fixed.

Kraken and BTC-E resp.

[allochthon]

I might have been a little quick to jump to a conclusion, there. ;) But is there anything currently stopping someone from opening up an exchange whose only fees are an initial membership fee?

[pbhjpbhj]

Greed?

Or possibly just that an initial-membership-fee model risks not covering costs long term and so looks like a potentially unstable proposition?