News for hackers. Stuff that matters.

A comment on Nanex Gets $700k Whistleblower Award from SEC. Parent comment

Re:Nanex Gets $700k Whistleblower Award from SEC by jsprogrammer on Wednesday March 02, 2016 @07:45PM (#11214282)
As a small trader I don't get paid to provide liquidity. A hedge fund may.

I used the word scrape in response to tptacek's response below my above post. If a trader is not aware that what tptacek describes is happening to their orders, then I believe my characterization is accurate.

[ Parent | on HN ]
Re:Nanex Gets $700k Whistleblower Award from SEC by Lazare on Wednesday March 02, 2016 @08:23PM (#11214412)
You're still not addressing my main point.

As a small investor, your order is probably routed to a wholesaler like Citadel, where you will get a better price than you would otherwise get.

And you are upset because you incorrectly believed that your order would be routed somewhere else (where, exactly?), where you would get a worse price, which you think would be better because...why?

> I believe my characterization is accurate.

It's not even slightly accurate; it's literally the opposite of the truth.

[ Parent | on HN ]