Dark pools and reserves may go extinct

Come July 9th, dark pools and reserves will be looked at less. Reg NMS will enable trades to trade only at displayed market centers. The loser???

1. ISO order sender gets no price discovery but may not care because mkt is moving fast. ISO order sender may be sweeping faster than dark pool/reserve even knows what hit them.

2. ISO/IOC order sender looks for dark/reserve but now is pinging = slower executions during fast markets=missed markets.

3. Dark/reserve, has to cxl order and resend order delaying execution and desired price fill.

Result:

Win, win for everyone, LOL!!!!

or

Ban dark/reserve orders

 

same thing as a reserve, in fact most of the time im cherishing the drkpool cause its bailing my ass out of a crack!


I dont see them going extinct any time soon, MILN is not only charging the sell side client to work the order but it is also charging Joe blow to hit their order.


I do agree it makes for a convolluted market though.

 

Yea, I doubt that too but SEC really f**ed this one up now. More fragmentation in the future IMO.

 

I do think more people will be posting their size now because of missed fills now.

 

the one that really bugs me is the third party trades, when you need out and you start seeing blocks go through for 25-100k shares but not on an ecn and 10 cents lower then you you just wanna scream, PLEASE SOME DESPERATE ASSHOLE TAKE MY SHARES!!!!! cause im a bigger desperate asshole