Dealer Quotes

Discussion in 'Order Execution' started by paulbechard, Oct 13, 2006.

  1. Hey guys,

    I am interested in learning more about the possibility of trading on quotes on a retail brokerage. I am unsure if such thing exists at the retail level (am I limited to to mkt and lmt orders?). By a dealer quote, I mean requesting a security at a specific price, getting a confirmation from the dealer/brokerage that you can get that price and have a set amount of time to accept it. I know that large institutional firms have the ability to trade like this. I was reading a white paper on trade latency and came across the term 'OPRA quotes' on the london stock exchange which was'nt explained very well, this lead me to the line of thinking that I should see if there are retail brokers with that functionality. The reason I am interested in this over limit orders is because I am always trading baskets of securities, and I am often stuck placing market orders if some of the limits do not fill.

    Thanks for your time.