High-speed trading firm linked to Robinhood is going to war with the SEC https://www.weny.com/story/43293079...ked-to-robinhood-is-going-to-war-with-the-sec What do think of their case?
Citadel is like drug cartel fighting legalization. "No, trust me, drugs are really bad and we should criminalize use". Keeping those profit margins extra high through manipulation and theft.
IEX is the Affirmative Action of the US stock exchanges. The SEC throws them bones to keep them alive. https://www.elitetrader.com/et/threads/iex-d-limit-proposal.349155/ It’s easy to say that Citadel is a bad guy, but on this particular issue, they are fighting the good fight, imho.
If not for Citadel. etc. l the spreads would be .05+. Most of my quotes are with a penny spread. Most of the time my fills are in between that penny spread. If Citadel makes a large amount of money while making the market more efficient more power to them. My brokerage firm also has to make money.It is a win win situation,all around. I can remember the old days when the spreads were 1/8 or .125 . You hardly ever got fills in between.
how does d-limit work? If I place a buy limit at 50.62 and market is 50.64/50.65 ticking down, does it then change my order to 50.61? Where am I placed in the queue?