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What they probably mean is the FINRA TRF, which is where most internalized trades and dark pool trades are reported. Whether or not you can participate depends on where/how these trade originated: Broker/dealer internalization: There's probably no way for you to participate in the biggest...

The lions's share of orders placed through discount brokers do not go through an exchange -- they go to a "wholesaler" first, who will attempt to wring some profit off of your order, paying your broker a small amount per share for the privilege. Unfortunately, this can result in some really bad...

As I also mentioned in another thread, I had a lot of problems when I tried 4K a couple of years ago -- I got it to work, but only at 15hz and it just didn't look good, so I went back to 2560x1440's. I would like to try 4K again -- eventually -- but I will wait for better connectivity...

If you're both returning that much and raising at that rate, it appears to me that you'd have $100m-$1billion AUM within two years. Why even bother partnering under such circumstances? Yet, it could be that your recent returns represented (at least in part) a string of good luck, and you...

I tried a 50" UltraHD, and trying to get it to work properly was a big waste of time for me. The issue was connectivity -- it simply wasn't ready -- the existing standards didn't have the bandwidth and/or are at best hacks. I don't think the situation is much better now. I wouldn't attempt...

EUR/CHF on Jan 16, 2015 With the possible exception of some futures (and I am not talking about offsetting positions here which aren't "leveraged" de facto), any tradable instrument can bankrupt a sufficiently leveraged trader in an instant. That said, I agree that leverage can be used pretty...

This links to info on Josh Levine's original Island ECN, which is more or less the "ancestor" of all modern equity ECN's: http://www.josh.com/notes/island-ecn-10th-birthday/

I have been paid out by SIPC before; and it was smooth, timely, and accurate. I don't think that SIPC was ever meant to deal with pure Ponzi's where the manager has total discretion and the investments turn out to be entirely fictitious. Imagine someone starting a Ponzi, raises $1 billion...

I would call your broker and ask them; if I'm not mistaken, they have some discretion in such situations (at least they used to). In any event, it's probably not a good situation to end up in, unless you've got a margin account and it falls well within the margin limits.

Interesting article by John Arnold on spoofing at Traders Magazine today, "It Takes a Spoofer to Keep the Speed Traders Honest": http://www.tradersmagazine.com/news/buyside/it-takes-a-spoofer-to-keep-the-speed-traders-honest-113377-1.html

If you're talking about equities, there are various ways for certain big/powerful players to do this, depending on what country you're talking about. In the US, this can be done through "broker/dealer internalization", which is explained here...

Some solutions include: Have more than one clearing broker to give you some more security via diversification. Study the financials of your brokerages and make sure you like what you see. If you are a hedge fund, use a prime broker you trust to take their custodian role seriously (although I...

NxCore has nice tick-by-tick historical options data -- I am not sure how much it costs now, maybe a few hundred per month for historical. You can find info on this on their Website. The thing I really like about their historical data is that you can run it through their API, and it works as...

1. Yes it is bad, on average; you'll typically get only $.0001, whereas if you were to hit a hidden order in the real market you'd get at least 100 times as much. The wholesaler your broker has sold your flow to will then have the option of pocketing what you should have gotten yourself. But...

You're talking about slippage experienced while adding liquidity in a .05%-spread security that trades massive volume. I think that such slippage is inevitable, unless you're one of three parties: 1) a broker/dealer with lots of customer orders to internalize (trade against); 2) a "wholesaler"...

I think Zacks has this data nicely formatted, at some price, no idea how much. http://www.zackspro.com/index.asp

That is strange that you should be auto-liquidated in such a situation. If I were you, I'd dig into that further and figure out exactly what happened there, and then code in limits so you can avoid it. Surely IB must be able to give you some reason -- maybe you had more non-marginable...

Maybe there are broker risk checks it goes through? Maybe their "smart" order router is slow? (Brokers' "smart" order routers are often -- if not universally -- set to give the broker the highest rebate, not necessarily to give the client the best or fastest execution.) You could try routing...

Does excess capacity necessarily portend economic collapse? At the least, the Chinese are showing significant growth in their ability to terraform their piece of the planet with remarkable speed (for better or for worse). Just to play the other side, if Chinese GDP growth has been so...

KCG/Getco buy equity order flow from retail brokers ("wholesaler payment for order flow"), so they jump the queue on everyone else; the cost is worse executions for everyone else (including those same retail broker customers), but, hey, the equity market is fragmented and complicated, so who...