M********r
发帖数: 278 | 1 By now, you must have all heard of dark pool, HFT, front running etc. Do you
know how buy orders get filled?
http://www.businessweek.com/articles/2012-12-20/how-your-buy-or | t********t
发帖数: 5415 | 2 so, limit order always go to public exchange, guaranteed? even when the buy
limit is higher than market price?(which essentially turns it into a market
order) | s********i
发帖数: 17328 | 3 看看最近的新书flash boys吧。跟散户没啥大关系。和什么order没关系，limit order
只能保证在limit之内不能保证limit之内多少，比如你说我10块钱以下买10股A，市场
上有个人9块卖10股A，front runner可以把那10股A用9块买来，9.99块再卖给你。直接
的big loser是那些需要大量买卖traders和fund managers，间接loser就是百姓的401k
/IRA，但很多时候traders们不care，反正是客户的钱，多点儿少点不影响他们拿bonus
。每个401k的客户也就是亏一点点，但对于dark pool和HFT来说加起来利润就很可观了
。 | s********i
发帖数: 17328 | 4 如果“buy limit is higher than market price”你在submit order的时候会给你警
告的。
buy
market
【在 t********t 的大作中提到】
: so, limit order always go to public exchange, guaranteed? even when the buy
: limit is higher than market price?(which essentially turns it into a market
: order)
| b****w
发帖数: 692 | 5 散户的交易会先到wholesaler手中，whilesaler为了从brokerage house(etrade,
scotttrade, etc)那里竞争客源，会给price improvement, 竞争是很激烈的。Buy
limit order如果价格高于market price, 在wholesaler那里叫做marketable limit
order, 按best offer成交，十有八九是被wholesaler internalize, 不发给exchange.
buy
market
【在 t********t 的大作中提到】
: so, limit order always go to public exchange, guaranteed? even when the buy
: limit is higher than market price?(which essentially turns it into a market
: order)
|
|
