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Same answer I gave you for EDGX vs EDGA. BATS Z is the traditional maker-taker model and BATS Y in the inverse. https://www.lightspeed.com/pricing/routing-fees/ Maybe you should change to a broker that can help you? :strong:

EDGX has a maker-taker model like NASDAQ where adding liquidity you get paid and taking you pay EDGA has an inverse model-you pay when you add you get paid when you take. The problem is that there are very few resting orders on EDGA so if you take liquidity, looking to get paid and there are...

A hedge fund trader traders the money of the LP and does not trade the client's money which would imply the owner of the account is the client. Those are called separately managed account (SMA) when the client is the owner of the account. Give me a call later this morning if you want.

I see you are from Canada. We do not care where you trade from. You can travel where you please. Your regulator has laws that make it hard to offer brokerage services if you are a resident of Canada without our broker being registered in Canada. It would not matter if you trade from another...

Yes. They can record your IP address if they want to when you connect to their server. Why?

It is very rare that I read a well-crafted article and disagree with close to 100% of everything written. This would be that time. BTW, this was me trying to be polite to this author, where I could not find a bio. And, he has should a great following that the article had no comments.

In all my years of trading, there was never a time when I bought stock with a 100 delta, sold an OTM call with a 25 Delta or less 1:1 and hoped the stock dropped so I can make money on the short call and cover. To me realized and unrealized P/L are equal except for taxes.

You can unwind the position whenever you want. That is not the point. The point is that it is hard to pick stocks that go up more than the market. Why sell calls to limit your gains on the winners for a small premium today? Yes, you get the keep the call value on the stocks that go down and...

I have provided my opinion on buy-writes before. I hate them. If I'm to spend time and effort to pick out 6 to 10 stocks I think will well outperform the market, why would I want to cap my gains on the few times I'm correct with OTM calls that typically trade at lower prices. To me, the math...

#1. The NYSE and NASDAQ have an opening and closing auction. https://www.nyse.com/publicdocs/nyse/markets/nyse/NYSE_Opening_and_Closing_Auctions_Fact_Sheet.pdf https://www.nasdaqtrader.com/content/ProductsServices/Trading/Crosses/openclose_faqs.pdf #2. I have no preference and have no data that...

IMO, I would only use the NYSE for the open and close for NYSE listed stocks. I would use NASDAQ for opening and close for NASDAQ listed stocks. I would add liquidity on either ARCA, NASDAQ or EDGX. For Lightspeed Trader clients, I would use the LSPT route to take liquidity during trading hours...

You can't trade outside the NBBO because of rule NMS.

If Sprint Corp, NYSE symbol "S" is 7.15 x 7.16 2mm x 1mm on the NYSE, without a match, you would have to wait for every order in front of you to get filled until it is your turn. That means the odds of buying on the bid and there still being a bid (rather than all the bids selling and now it is...

Well some of this will require a longer conversation and some is a matter of what you like and need. Let's ignore the APIs, In general: Lightspeed Trader is built to be a thin client, use fewer resources, be very fast and offer a large number of configurable hotkeys and routes. (Lowest monthly...

The NYSE has to match the NBBO to trade at all or it is a trade through. So let's assume the NYSE bid matches or betters the bid on other exchanges and ECNs. 10.10 x 10.13. Your bid gets sent to the NYSE and you are bidding for 1000 shares, A NYSE broker is working a not held order to buy...

This only applies to NYSE permit holders. They do not jump a head, their terminal get a match on all trades on the NYSE if their clients are matching the NYSE BB or BO. If you send your order to any other ECN, this does not apply. IMO this is not worth your time as a concern.

I agree. We offer a choice of 5 different stand-alone trading platforms (for equities/options-more for futures), 4 with APIs plus a hosted gateway for institutional players, I also believe that the platform is important. There is not one that is best, but what is best for you. We provide market...

You only need a FINRA series exam if your employer is a registered Broker-dealer. Hedge funds are not typically BDs. Some prop firms are and some are not. The ones that are, typically require the SIE and 7, but some might require the 7 too. Why do you ask?

There is really way too much here to effective discuss in a single thread. You should forget about contracting, delivering and receiving raw data from the exchanges. It is more typical for a hosted solution and still often needs a broker to deliver the feed. It is only faster if you can...

We do not, so I can't do that.