Re:Canada to ban foreigners from buying homes
by aspenmayer on Friday April 08, 2022 @12:10AM
(#30953254)
I'd like to know more about all of this. Do you have any links?
> Even as a retail nobody, I can create contingent orders that only become public orders once the trigger conditions are met.
Do different brokers implement this differently, or is this an a property of the exchanges themselves?
Re:Canada to ban foreigners from buying homes
by sokoloff on Friday April 08, 2022 @04:41AM
(#30954735)
The contingent or smart orders are implemented by brokers (E*Trade’s are different from Interactive Brokers) or in trading platforms. They are held outside the exchange until whatever trigger condition allows them to be expressed as an order directly supported (which introduces timing and other risks that they won’t work like a natively exchange-supported order).
In terms of links, I don’t have a ready primer to vouch for. I worked 6 years in online broker tech, but it was decades ago.
There’s indeed an order book that’s “public enough”, but not every trading system enters every intent into the public order book. (Even as a retail nobody, I can create contingent orders that only become public orders once the trigger conditions are met.) I also don’t believe that individual bid/asks can be traced to a specific bidder.
Further, block trades are negotiated off-order-book and later reported.