I'm trying to figure out what exactly RASH orders are and how they work. I really can't find any explanations through google. I think there used by Island. Can anyone help explain?
As far as I can tell, RASH is just one of the protocols that Nasdaq participants (brokers, market makers, etc.) can use to manage orders. It's like a proprietary version of FIX. http://www.nasdaqtrader.com/trader/tradingservices/productservices/productdescriptions/rash.stm Full spec of the protocol is here: http://www.nasdaqtrader.com/trader/tradingservices/specsinstallguides/rash1.0.6.pdf - Pat