33 percent of all U.S. stock trading takes place away from exchanges

Discussion in 'Wall St. News' started by Fishaman, Feb 5, 2011.

  1. Fishaman


  2. 777


    Last edited: Oct 24, 2017
  3. ajacobson


    777 likes this.
  4. sle


    What fraction of that 40% do you think is due internalized institutional flow? I should know that number, but I can't recall it.
    777 likes this.
  5. ajacobson


    Low liquidity names - a lot. Very low liquidity names - very little. High touch institutional - very very desk dependent based on their internal "relationship" and their in-house algos. My desk's U.S. listed fills are almost all done in lit venues.
    Changes the amount of rebate and the whole thing changes. For the longest time, our desk wouldn't allow a rebate to be reflected in our trading costs. Viewed it as a conflict. That lasted for a while the HFT came about and screwed things up. That seems to be evolving into less of a problem.