Quote from Don Bright:
Automated programs that were paying to take liquidity (and manual) - we now get paid to take liquidity -saves the average JVC trader about $8,000 per year we figure - every little bit helps.
Not "parking" orders of course, only as the final "ping."
Don
edit: should maybe explain for others. Since we don't want to be at the mercy of the "sub penny" and HFT algo's all the time, for the last year or so we chose to "take" liquidity vs. parking (resting) orders to be paid for providing liquidity. This has worked overall. Now that there is competition with CBSX (net 9 cents to us for taking) and NQBX (net 14 cents to us for taking) - we are using the new GS program that allows us to ping each destination with our marketable orders.