I see BRUT is still trading in as low as 1/100 of a cent increments, but none of my platforms are allowing this. IB, Tradestation, etc. I see this as quite unfair. What's the excuse?
BRUT still stepping in front of your orders. Especially on the cheap stuff. Y'all must be making so much coin you can take the beat. Congrats.
Testing the Genesis Demo and I can use $0.0001 Oh, and they also offer rebates when I add liquidity....
The official spec is at http://www.ebrut.com/infoCenter/ClientUpdate/111403.htm "Brut will further restrict the use of sub-penny trading by setting the minimum price variation (MPV) for orders in Nasdaq-listed securities priced at $5.00 and above at $.01 (two decimal places). Any order received in this price range at a finer MPV will be rounded down (for bids) or up (for offers) to the nearest $.01 for display and execution. The MPV for Nasdaq orders priced below $5.00 will continue to be $.0001 (four decimal places). Trading in exchange-listed securities, including exchange-traded funds, will not be affected." I'd try asking IB, etc., why they aren't using the right trading increments.
Testing the Genesis Demo and I can use $0.0001 Oh, and they also offer rebates when I add liquidity-H2O So what? Everyone else does too.
I know, but what i meant to say was this : If you have problems with people frontrunning you (on BRUT) for $0.0001 than you must be scalping for (sub) pennies. If this is the case, you also need rebates (Or else this type of trading is not possible imho) Also, IMO every platform used for this type of trading should have the BRUT shaving option. So, if he cannot shave BRUT, my guess is that he isn't receiving rebates as well.
Actually, I was wanting to do the frontrunning. And it has nothing to do with sub penny scapling. If I'm trading a stock that moves slowly, and I want a fill on the bid or offer, I don't want to have to wait for the 50k bid to fill.
seriously, this whole sub-penny game is for pikers. part of the reason i moved from the nazdog to NYSE.....