SEC, DoJ to jointly investigate exchange data fees | PAYWALL for more June 23, 2020 CONNECT WITH SMARTBRIEF News and trends shaping the future of finance SIGN UP ⋅ SHARE ADVERTISEMENT SEC, DoJ to jointly investigate exchange data fees The Wall Street Journal (tiered subscription model)
When it’s going to be useless for retail traders. They are just trying to bring costs down for sale-side firms. You and I will never have access to good real time data (SIP or proprietary), especially now that PFOF is accepted. US Equity markets are becoming CFDs run by HFTs. That was the idea in the first place. Do you think HFTs are against high cost of propriety feeds? Non-display rule is the best thing that happened for them.
Why do you say that? Anyone can buy access but yeah.. maybe someone should just bomb them to level the playing field
https://www.google.com/amp/www.cour...nges-win-fight-against-sec-over-trading-fees/ Just host a box at nasdaq.. check the atomic clock.. the quotes aren't lagged
Yes, Lime brokerage is super fast..but you can join a prop firm or become your own broker dealer if you have enough time and money. if you put a box next to the matching engine you will get quotes just as fast as anyone else although IEX is the only one I know.of that goes out of their way to make sure data arrives at external POPS at the same time. The reason I got picked off is due to latency arbitrage and sniping hft algos.. not any sort of slow quote feed. The pickoffs stopped when I started using iex peg orders instead of trying to peg the orders on nasdaq myself
So how do you think they are able to pick you off if you run at same speed? Do you think they use same network, routing equipment, gateways, etc? Do you remember one ET contributor mentioned that tech team from NASDAQ came to their shop doing presentation and Q&A on how their matching engine works. Their had built a moat around their business and spend lots of money to make sure barrier to entry is high. Just like any other profitable business would.