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A comment on Morgan Stanley Closes Acquisition of E*TRADE. Parent comment

Re:Morgan Stanley Closes Acquisition of E*TRADE by quickthrowman on Saturday October 03, 2020 @01:06PM (#24673306)
Schwab and TD Ameritrade already sell their order flow, which shouldn’t be surprising in the least if you pay attention to stock and option trading.

Also, having your order sold to Citadel doesn’t mean you’ll get a worse fill.. Citadel still has to respect NBBO prices for fills

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Re:Morgan Stanley Closes Acquisition of E*TRADE by JumpCrisscross on Saturday October 03, 2020 @01:10PM (#24673338)
> having your order sold to Citadel doesn’t mean you’ll get a worse fill.. Citadel still has to respect NBBO prices for fills

Lots of orders fill better than NBBO in dark pools. That’s how Citadel et al make money. That said, the slippage doesn’t really matter for small cheque sizes—it’s too small to matter.

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Re:Morgan Stanley Closes Acquisition of E*TRADE by smabie on Saturday October 03, 2020 @06:32PM (#24675167)
Even with Schwab, I get tons of fills less than NBBO. Maybe not as much or as good as IB, but you're still getting price improvements a lot of the time.
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