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Re:Understanding Jane Street by smabie on Tuesday August 02, 2022 @12:48AM (#32315203)
Flow from other HFT / market makers is often very toxic. They are playing the exact the game as you.
Re:Understanding Jane Street by hchz on Tuesday August 02, 2022 @01:12AM (#32315351)
Right, sure, and that game is not lifting the market, generally speaking.
Re:Understanding Jane Street by twic on Tuesday August 02, 2022 @06:03AM (#32316877)
Other market makers are often moving away from something they've seen but you haven't yet. When whatever that is hits you, the fills you got from the other market maker will look really bad.
Re:Understanding Jane Street by matred on Tuesday August 02, 2022 @12:49PM (#32321123)
Sure, but those short-term active strategies have little impact next to what big paper will lift in major macro markets.
Re:Understanding Jane Street by smabie on Wednesday August 03, 2022 @01:55AM (#32328120)
Not sure exactly what you're trying to say but let me tell you, fills from other HFT firms are highly toxic.
Re:Understanding Jane Street by smabie on Tuesday August 02, 2022 @01:28AM (#32315425)
Not aware of a market maker that also doesn't take liquidity as well. In fact, it probably would impossible to market make without also taking (you wouldn't be able to provide liquidity if your quotes were in cross with the market).

That said market makers do a lot more making than taking.