Does this exist in futures trading? I don't even really care since the market moves through all my resting limits 99 percent of the time, just curious if it exists. { just realized probably should have posted this elsewhere/order execution }
PFOF is more common in options and equities. Either way it depends on the broker. Someone said on this forum before that Robin Hood's primary income comes from PFOF, so there is that. You can find real life stories in this book about the topic.
equities i get, for example on a normal prop account you could post a bid/offer at the nbbo and get the fill/unintentionally take liquidity from a random market center crossing. Ive used one retail broker for stocks, and this never occurred. not that it matters, it didn't do anything to pnl, just an observation. { for context, i used to rebate trade back in 2005, and then did the whole floor broker routing/jumping the queue in 2010 lol } but the question still remains, does pfof exist in futures? For example, I'll look at an fcm's website, and it'll say " we offer direct market access, orders are routed directly to the exchange", which makes me ask, " as opposed to what? " lol.
how does the market move through your resting orders? i'm sure people would pay to trade against you. look into block trades on cme direct, clearport, ice
I just mean I'm going offside lol aka, if i post 50 pending limit orders to bid, the only time i would of needed a "good fill" limiting in is maybe the last fill before the market turns. aka/don't care too much about pfof was just curious if it exists in futures, because i somewhat regularly get a "good fill"/one of pending limits actually got filled without going offside, which almost never happens to me in equities if i'm posting on a normal lit exchange, but happens enough in futures.