Myself. But that could change, since def suggested I PM him to discuss a compliance position.
This is your 3rd attempt to run me off of this thread.
Good luck to you.
Interactive Brokers - Receives Payment for Order Flow or Not?
- Thread starter NeoTrader
- Start date
Myself. But that could change, since def suggested I PM him to discuss a compliance position.
This is your 3rd attempt to run me off of this thread.
Good luck to you.
I'm not trying to run you off so stop saying that. I'm just interested what your motivation is here since it is obvious you feel like you have some smoking gun against IB. What's your ultimate goal? Who are you working for?
The topic interests me. I am also reading Scott Patterson's book, Dark Pools.
http://www.amazon.com/Dark-Pools-Machine-Traders-Rigging/dp/0307887189
Check it out. Same author who wrote The Quants. There's even some good history on GETCO, Timber Hill, ATD, and others. Nothing nefarious in there about IB, just coverage of a (still) new frontier.
IB's statements on PFOF and dark pool participation can be confusing, hence the genesis of this thread.
http://www.amazon.com/Dark-Pools-Machine-Traders-Rigging/dp/0307887189
Check it out. Same author who wrote The Quants. There's even some good history on GETCO, Timber Hill, ATD, and others. Nothing nefarious in there about IB, just coverage of a (still) new frontier.
IB's statements on PFOF and dark pool participation can be confusing, hence the genesis of this thread.
> reading Scott Patterson's book, Dark Pools
Why? He's a journo with no industry experience, to my knowledge, and shallow, superficial understanding of the markets. Spend your valuable time reading books by practitioners who've made real money and know the real story.
Wiki: Patterson has as Master of Arts and English degree from James Madison University...
Why? He's a journo with no industry experience, to my knowledge, and shallow, superficial understanding of the markets. Spend your valuable time reading books by practitioners who've made real money and know the real story.
Wiki: Patterson has as Master of Arts and English degree from James Madison University...
I don't disagree, and I recognize the bias (subtitle of Dark Pools is "the Threat to the Global Financial System," for example). But on the topic of dark pools mechanics, I'm not aware of any written from the perspective of a trader or dark pool operator.
Any suggestions?
And we continue to see many of them getting busted for front running their own clients.
For starters, Lopez de Prado was at Tudor when he co-wrote/co-edited http://riskbooks.com/high-frequency-trading-new-realities-for-traders-markets-and-regulators
It's all the outcome of a fragmented American securities market. One of the greatest deceptions by Wall Street and HFT firms is how they try to convince everyone that HFT is to be lauded for tighter spreads and higher liquidity. I believe the real reasons for tighter and more liquid market is simply two reasons: electronic markets in general and decimalization. If the stupid fragmentation regulation had never been put in place you would have a perfectly functioning market in the US. What you got at the moment on the other hand is a circus, where one lies into the face of the other right after stealing the usual fraction of pennies and abuses by dark pool operators.