Re:Insights into High Frequency Trading from the Virtu IPO [...
by consz on Thursday May 04, 2017 @07:48PM
(#14269923)
Those number absolutely include payments. It's rare (in my experience) for an equity market making strategy to be positive in gross terms (prior to the maker-taker rebate). These numbers you hear from Virtu/KCG should be net of exchange trading costs/rebates.
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