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What about Timber Hill's market making in US equities? And foreign equities? Do you happen to know whether they're still operating (and planning to continue) in those spaces?

This was an official Nasdaq reopening print, and it was busted later that afternoon, along with some other trades that were far outside of the previous price. The stock's trading was chaotic apparently due to an announcement that the CEO would be presenting at a conference, and it was...

False. Insider trading hurts everyone but the insider trader. The illicit profit they make comes from someone else's pocket. Identifying exactly who's been hurt, and by how much, is difficult. But you'd better believe that it's not primarily HFT, since HFT's simply adjust their algorithms to...

To simply install a server in a shared rack in a building that has pretty good proximity is as low as about $100 per month (what "good proximity" means is highly dependent on your broker and /or data provider -- you can always ask them). For exchange colo e.g. in Nasdaq or NYSE's facilities...

I don't think separate events are ever "simultaneous" when it comes to exchange-generated events (unless you're trading with yourself, which is of course illegal) -- the broker receives executions sequentially. When you look at a FIX feed or the TotalView feed, events always come one at a time...

The distinguishing feature of PSX is that it allows for any "pro rata" priority at all -- other US equities markets follow a price-time priority only (aside from the fact that a few exchanges such as NYSE that allow "special" firms, "DMM's" on NYSE, to cut the queue). In other words, with PSX...

If you PM me with the exact time, size, and price of your order, as well as the fills (time/price/size) you think you should have gotten, then I should be able to tell you what happened (and verify the broker's claim..or reject it) by looking at the data from my end.

If you're talking about US equities, the situation is very complex. For liquidity-adding orders such as the one you listed, things are a little less complex if you specify the route for your order rather than using a "smart" router; this makes the situation a little more definite (for example...

I would check out https://www.greentradertax.com; their website has a lot of free info, some paid publications, and you can get a consultation with them for an hourly rate. I think that even just 1/2 hour with one of their top people should answer your main questions, as they deal with this...

earningswhispers.com has this as well as the "whispers" numbers, for a monthly fee of approx. $20.

This highlights a general problem with the "wholesaler" model -- and any model that creates a conflict of interest between a client and their broker (who's receiving a kickback in the case of the wholesaler model). http://www.nanex.net/aqck2/3517.html According to the above study, something like...

Not necessarily (and in practice, never quite that much data); TotalView ITCH only sends out a message of an event occurs -- e.g., someone sends an order to the book, a halt occurs, etc. TotalView ITCH NASDAQ daily file archives are about 3-6 GB in size, gzip-compressed. That's for the...

The TotalView ITCH feed, which is Nasdaq's most expensive and comprehensive feed, sends out nanosecond timestamps -- so 1 nanosecond precision for each event in the feed. Whether or not this ultimately answers your question, I'm not sure. Accuracy and precision aren't necessarily the same...

.99 shares is a trivial amount of risk for them to absorb, even if they need to do this for each of the 8000+ stock-like securities traded in the US. The only security that could be seen as even remotely being an issue, even for a small brokerage, is BRK.A, and that could be hedged with BRK.B...

As Tim Smith points out, "free" brokers will likely cost you in other ways. http://blog.themistrading.com/2016/01/robin-hood-the-legend-of-internalization/ http://www.nanex.net/aqck2/3519.html

To the best of my current understanding, it's not possible to completely avoid getting odd lots when adding liquidity -- it's avoidable when taking it, in which case you can set a minimum size for certain order types. This is one area where having knowledge of order types of various exchanges...

1. Getting the hard drive out of a laptop is usually pretty easy, provided you have the right tools (usually a very small Phillips head screwdriver). It really helps to have the manual, so I'd suggest finding it online. 2. After removing the drive, the type of adapter you need to connect it...

FIX is messaging protocol for trading -- what exactly do you say it's "architected to be" if not for trading? A major advantage of FIX is that you don't need to have a platform. If you're truly a high-volume automated trader, GUI-based platforms simply get in the way. FIX is used by (probably)...

There are many, quickfix being the most common but some semi-commercial ones as well -- any search engine will turn them up.

Rather than a platform API, one can use the open-spec FIX Protocol and achieve almost total broker neutrality. FIX is likely to take a bit more time to understand initially, but once you're there it's vastly superior to any platform I've used in almost every way: fault tolerance, logging...