wtf, is the point. if theres no edga or bx, you get nothing, even in liquid names.. on thinner names like lvs jpm wfc, its just pointless in the above scenario. who the fuck is using this...and why.
I was using it then they turned me off because my order flow was toxic to them. All the want is retail flow that their black box could take the other side of the trade. They want the people who are always wrong plain and simple
That's funny; mark of a truly good trader, bravo! These payment-for-order flow relationships have got to go, and the SEC seems to agree with me here although is meeting with resistance. Why is the retail investor going to get a "better deal" when some backroom deal has been made between their "discount broker" and one of these venues? In my opinion, the operators of these venues should compete in the open ECN's (Nadaq BATS, ARCA), for these orders just like everyone else. Anything less impedes fair and transparent markets.
also a lot of dumb 'dark liquidity seeking' algos that have a preference for taking dark liquidity than go to a lit venue. also blows my mind when I'm posting on bx or edga and someone takes liquidity from one of the 29/30 mil venues! wtf