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proptrader911

Registered: Jan 2010
Posts: 34

10-18-12 08:02 PM

Hi everyone,

I had really been struggling to find a way to get fills at prices up to the 4th decimal. For example I see many cases in which someone gets filled @ 9.4513 in BAC or 9.4501 which is even more annoying.

Clearly these people have an advantage over the traders that can't get similar executions.

P.S - I am not talking about midpoint execution. I know how to get filled at the midpoint.

Any suggestions would be greatly appreciated. I am using Sterling

Regards,
prop trader

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NY0BScalper

Registered: Jan 2008
Posts: 1177

10-19-12 06:29 PM

Start your own retail firm and provide "price improvement" to the customer order flow. Or pay an existing retail firm to give you access to their customer orderflow.

Posting liquidity on an orderbook puts you at an inherent queue disadvantage which you can't do anything about.

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proptrader911

Registered: Jan 2010
Posts: 34

10-19-12 07:33 PM

Quote from NY0BScalper:

Start your own retail firm and provide "price improvement" to the customer order flow. Or pay an existing retail firm to give you access to their customer orderflow.

Posting liquidity on an orderbook puts you at an inherent queue disadvantage which you can't do anything about.

Do you know if existing prop firms pay for access to customer order flow? Is there any way for a trader to take advantage of these prices?

These sub-penny fills are getting so common that you can barely get a fill these days. Obviously the SEC is supporting these fills throught the NYSE Retail liquidity program. Since they are in favour we should do anything we can to be granted access to these sub-penny fills. Otherwise we are just going to be front-run all the time and get shitty fills.

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jb514

Registered: Apr 2011
Posts: 144

10-19-12 07:39 PM

Those are all internalized trades which are only really visible on barcode symbols. There's really nothing you can do about it.

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proptrader911

Registered: Jan 2010
Posts: 34

10-19-12 07:47 PM

Quote from jb514:

Those are all internalized trades which are only really visible on barcode symbols. There's really nothing you can do about it.

What is a barcode symbol?

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