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Hmm... looks like I was wrong on this one... http://www.directedge.com/frequently_asked_questions.aspx?s=about Regarding sending orders so that they don't interact with FLASH, NSDQ SCNF, & SGNF orders, don't FLASH. EDGX/A ROUX & ROUE orders don't FLASH either. If sterling doesn't...

Actually... Knight Owns Direct EDGE

Good. Thnx for clarifying. :)

Well yeah, but don't they function on a manner similar to clearing houses... so that if too many banks don't pay they end up taking risk?

If VISA or MC goes belly up... do their networks get disrupted? That could have a far deeper effect than banks going under, since a pretty big chunk of world commerce these days goes through those networks... (debit and credit cards...)

there's no problem with printing shaved prices. But quoting shaved prices is against the law.

1 billion float and 1 billion available to short equals 2 billion shares available for sale... That's exactly what the allocate rules are meant to prevent... Shorts have to be enforced on by hammering on FTD's not by uselss downtick restrictions

Are you guys seeing shaved quotes, shaved prints, or both?

You could build something using a 1 min chart price & volume, along with daily pivot points ... So you take into account the volume on the candle that broke the pivot point S/R... Or how much volume above the avg vol was used to break that S/R... not sure what kind of formula you'll have to...

The only constant in this game is change. Two cash cows of the HFT game might become extinct, dark pools and FLASH orders. That's gonna make the market shake off a few players... Those who remain are going to be in need of original ideas... Then someone's gonna come up with a new way to find a...

they buy low n sell high... That's a trader in my book...

Algo traders <> quant traders

The 1000th post is sort of like the first white hair... it makes you realize so many things...

The problem with non-standarized financial products, is that liquidity is hard to come by... I've never traded these FLEX options... but I'm guessing their liquidity, compared to standarized options, is as dry as liquidity on Foward contracts, compared to futures...

Well, the tricky thing here is that once registered, you can easily compromise the firm. If you break any laws, then it is as if the firm had broken the law (failure to supervise is a big no-no...)

from http://financial-dictionary.thefreedictionary.com/FLEX+Options FLEX Options Exchange traded equity or index options, where the investor can specify within certain limits, the terms of the options, such as exercise price Expiration date, exercise type, and settlement calculation.

Shouldn't you consider Cost of Carry as part of the "ES" price when comparing to the SPY?

There's actually 3 symbol conventions for preferred shares and other special issues (warrants, rights, when issued, etc). In this page you'll be able to find all 3 of them... CQS, CTS and NASDAQ's http://www.nasdaqtrader.com/Trader.aspx?id=CQSSymbolConvention

so, you're looking for someone who's taken an MRI while trading?

Hey guys, I attached a pdf with a proposal that was made to the SEC for a real-time US-wide shorting pool that would make naked shorts impossible while still allowing regular shorts to trade, and the regulators to actually control this... Quiet an interesting read... even if the SEC...