In short, exchanges have long been in the business of attempting to control information, enabling some traders to execute orders faster than others.
Exchanges are scrambling to cater to the high-frequency crowd, in part because the huge volumes they generate can make it easier for other traders on the exchange to execute orders.
Goldman, along with the Citadel hedge fund and Knight Capital Group, owns Direct Edge, a broker-dealer that provides one-stop shopping by aggregating orders and using 10 of the most active dark pools to execute orders.
But the Precidian product, which still needs SEC approval, would execute such orders through a blind trust and leave it up to each manager how often to fulfill the disclosure requirement.
Reluctantly, they had to execute the sell orders that came in.
Hull could aggregate all orders and execute them electronically.
Consolidation is almost inevitable in the exchange world as we all want a place to execute our buy and sell orders at the best price.
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Some of her orders did not execute because her broker (USAA) does not accept trades for Toronto-listed stocks, others did not execute because the limit prices were never met.
Firstrade, like many brokerages, also sells client orders to other firms, which pay for the right to execute them, presumably at a profit.
But, as the Supreme Court told President Truman when he attempted to use an executive order to place all steel factories under control of the federal government, executive orders may not be used to make laws, only to execute them.
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