Bit of a red herring to say this matters to individual investors though - compared to income tax it is meaningless, and if the share is expected to pay long term dividends it is not big.

It discourages day-trading on stock, but it won't do too much damage to mid/long term investors. It might actually encourage companies to make good mid-long term decisions.

EDIT and the two endpoints can trade directly with a spread smaller than 6 bps if they are that price sensitive.