Institutional investors unhappy with tick size pilots

[sprstpd]

I already did that, it's there, I didn't imagine it. I suppose it could've been a quoting error but based on the evidence, I still do not see how.
I think in HFT world, reacting that quickly is common. SMART routed it to one venue, HFT picked it up and moved their bid on the slower one. What's impossible about it?

Because IB would have routed it to the exchange where the bid was located first. I've had similar experiences because there was a quote that was erroneous and persistent (never went away unless you tried to hit it, and when you lifted your order the quote would come back).

 

[ajacobson]

Not much HFT in the after hours because of the limited liquidity. Plus the dealer wouldn't see the order until it arrives. No matter how fast their feed the initial order ought to fill the posted size.

 

[Sig]

SEC is a waste of money and resources. It'd probably be pretty painful to see what type of inept oafs work there.

You get paid jack shit compared to the market rates a finance attorney could get and armchair quarterbacks constantly call you inept oafs for both prosecuting and not prosecuting cases, and you wonder why the best and brightest don't go work for the SEC?