In a flash order, a firm wishing to buy or sell stock can elect to freeze the order on an exchange for as long as half a second.
This dynamic boosts the chance the flash-order trader will complete the trade on the exchange and get the rebate.
Rather than flash the order for a potential mate, the exchange can route it through the dark pools that expressed indications of interest.
Flash-order advocates say the orders help traders get better prices.
When the exchange is not on the national best bid and offer (NBBO), the mechanism here at the CBOE will flash that order to participants in the marketplace and allow those participants to step up to the NBBO.
"Flash has shown price improvement and order-size improvement, " said Mr. O'Brien, who joined the firm from the Nasdaq Stock Exchange in July 2007.
Flash orders, a type of order displayed on certain exchanges for less than 500 microseconds, expose information that is only valuable to those with the fastest computers.
Quicker than you can say "order up", those flash mobs turned into a cult, and the cult into a movement with gourmet trucks operated by chefs from up-and-comers to TV celebrities.
Suddenly, AB de Villiers watched at one end as everybody from number five onwards came and went in a flash with Mitchell Johnson (3-58) cutting a swathe through the lower order.
New order composition was: foundry 72 percent, logic and other 12 percent, flash 12 percent, and DRAM 4 percent.
The UE 6.9 brings pretty much the same network coverage, cam, Bluetooth, media capabilities, and on-board memory as the 9.9 but had to forgo the microSD card and flash while dropping down to a 1.9-inch 176x220 262k TFT display in order to slip into that world's slimmest, 6.9-mm, 2.33-ounce dress.
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