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If you are being front run in a dark pool, then why are you trading there? Stay in a lit market where you can know what is going on.

Barriers to entry? Join a prop firm and you get it. Some brokers have them too. That isn't much of a barrier. Point is, if you want to route an order to a specific venue, or have some of those special order types, you don't need to be HFT. You simply have to look for it. The cost is...

Sounds like you are talking about stuff that is happening outside of an exchange. I.e. at whatever HFT firm is buying the order flow from your broker.

I understand. My point was simply that everyone has access to it if they really want it badly enough. It isn't kept from anyone willing to seek it out. Regulations aren't going to force a broker to start allowing it. If one is unwilling to move, then the best hope is that regulations ban...

Everyone has access to these things already. It is just that your broker may not allow it.

This guy is not a trader, nor is he trading. He is a technologist. Not knowing the answer to that is a reasonable response. He is probably covering his butt.

No need for IEX, you can simply avoid sub penny orders by sending your orders to an exchange. Sub pennying is not allowed there (except for mid point orders).

Internalization and PFOF is a different issue. If someone is routing to IEX, I would assume they also (or previously) route to other exchanges. Cutting internalization/PFOF out of the loop.

It doesn't stuff HFT. It prevents order leakage so that certain strategies (that some HFT firms use) wont work as well. But unless you are trading a large amount of shares, you probably won't notice a difference. Other than paying higher commissions of course.

That particular case isn't even against a HFT firm. SEC just wants to be perceived as doing something.

I think your problem is with Reg NMS, not the hft's. Get rid of the locked market rule and most of the problems people have with HFT will vanish.

Statistics make that possible. Trade that often and have a slightly better than 50/50 edge and you too can have the same results.

I dont think he was lying. I think he thought he knew, but was incorrect. That was my take. Although we will never know.

How do you know what my design choice is? :) You are assuming I want it the status quo. If you really want to know. And I know you do. Here is what I'd want: 1) No dark pools 2) no internalization 3) one central exchange 4) basic limit and market orders only 5) Fix the SIP However, we...

How are you routing it? The funny thing is. The problem that Brad/RBC had with getting fills and that is used in the book was solved when they took the time to look into why it was happening. People are missing that Brad himself said that fill rates went to 100% when they routed their orders...

HFT is not the problem. Abusive HFT is. When people stop assuming all HFT is abusive, then maybe we can get some things done.

Hah. I was reading this whole thread thinking it started yesterday. Goes to show, nothing has changed, no matter what position on the topic you have.

Well, the reason why you aren't hearing about it is because they aren't going public. They usually won't open their mouths with that information because then everyone screams murder.

Thanks for the response. Out of curiosity, what is the reason a prop firm would not be interested? Not enough commission income? Not long enough track record with that strategy? Or something else?

I should also say that I need to be able to trade remotely. tx