That's if the multi-trade transaction is completed
Post# of 96892
(Total Views: 515)
Posted On: 01/18/2018 10:44:09 AM
Re: StephCurry #87442
That's if the multi-trade transaction is completed in the same trading day. If you put in a buy for 100k shares and it is filled by 4 25k trades in the same day you are only charged one fee by your broker. The problem is that the MM's know this. I had a 50k buy in a couple of months ago and they waited till the end of the day and filled a 400 share partial transaction. My fee for the trade cost me more than the shares. This has happened to me on more than one occasion.
By doing this the MM's scare you out of putting in orders that are not AON. If you put in an AON order then they can skip your order when shares are sold on the premise that they could not fill the whole order. The AON order is also not listed as a bid on the Level 2 reporting.
Kind of a really crooked way of doing business. These are all rules created by the SEC to give the Market Maker a huge advantage over the average pink trader.
By doing this the MM's scare you out of putting in orders that are not AON. If you put in an AON order then they can skip your order when shares are sold on the premise that they could not fill the whole order. The AON order is also not listed as a bid on the Level 2 reporting.
Kind of a really crooked way of doing business. These are all rules created by the SEC to give the Market Maker a huge advantage over the average pink trader.
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