Not sure this is true. My understanding is that open/close trades are traded through and hit the book of a particular exchange - no routes to...
Well, I don't know any other way how to modify an accepted order except cancel/replace :) Of course you can cancel the order and send a new one,...
No offense Jim, I know you can talk hours about corrupted specialist system :) But you don't hear me. I do know that front-running hurts...
Please correct me if I'm wrong, but AFAIK, opening and closing trades are not "covered orders" (since thy require special handling) and thus...
Those exceptions more RegNMS related. I'm still not convinced... :)
Yes I do know. [B] And how the customer can be hurt from this front-running (in this case "front-crossing")?
I did and do read NYSE rules a lot since this is the only exchange I trade on, and I have to know how the exchange works and what the rules are....
You are talking about cross orders. They are not taking/providing liquidity per se. Furthermore, the floor broker has to flash the quotes for the...
http://www.nasdaqtrader.com/trader/tradingservices/specsinstallguides/inet_fix1.0.pdf Every exchange/ECN has it's own "version" of FIX...
I think the right sentence is "floor traders used to step in...". Specialists violated exchange rules and PPY by allowing floor brokers to...
Why do you think he's not? Market openings are not so trivial, especially on NYSE...
3rd and partially 2nd - NBBO is the best price with the bigest quantity at time priority.
Of cource, a separate queue for each price level...
I'm not a FIX expert, but I know that INET allows you to reduce the order quantity of a limit order without loosing the time priority.
Hard to say, it depends on the Smart Router implementation. For example, SR may constantly monitors market data and submit your limit order to...
What you guys are talking about? The first tick (opening price) was at $50.50, implying that all market orders and limit orders up to $50.50...
ACTIV Financial
You probably referring to NASDAQ TotalVew. Essentially, it's Level II with all Market Maker quotes at each price level...
Yes, e-Quotes can be seen by specialists unless entered as "do not display" (but at least 1K shares have to be displayed).
More information is needed. If there is an aggressive seller in a stock you'll see market orders hitting your bids regardless of the spread....
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