My boss at my last firm asked me to read this. Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market
Thanks for the reply. I read it. I just didn't find it very technical in terms of market structure. Maybe its just me
ECNs show technical information on their website. IE https://markets.cboe.com/us/equities/support/technical/ Dark Pools do not publicly choose to market helpful information. DMA is Direct Market Access-that is just access to each exchange and ECN. I do not know what SOR is. What do you hope to learn with a book?
S SOR = Smart Order Routing How orders are routed, fees, special order types, spoofing, flashing, how is best execution achieved... maybe a small booklet on all this packed together
Here are the routes that we offer on Lightspeed Trader with fees- https://www.lightspeed.com/pricing/routing-fees/ Here are NASDAQ order types-start with this- https://www.nasdaqtrader.com/content/ProductsServices/Trading/OrderTypesG.pdf You can google for the other terms. Best execution is achieved by looking at the current market and balance your needs. too complicated for a simple answer. SMART order router- There are too many of them to describe. On that list, LSPT is one. It scrapes lite exchanges while LSPD scrapes dark. each one at each broker is different.
Try and google university pages for each term. Like this one at NYU. NYU has a number of papers on market structure etc. Dark Pools. http://pages.stern.nyu.edu/~jhasbrou/Teaching/POST Draft syllabus/powerpoints/darkMarkets.pdf
Securities Trading: Principles and Procedures http://people.stern.nyu.edu/jhasbrou/TeachingMaterials/STPPms12a.pdf I think learning market structure is important, but there is no reason you need to have my knowledge level to understand the best way to implement a strategy. Spend more time on the strategy. Good luck.