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The large block traders need someone to trade with. By making it a moral issue, IEX can attempt to trick suckers into joining the market so that the large bloc
by harryh 11y ago
The large block traders need someone to trade with.
By making it a moral issue, IEX can attempt to trick suckers into joining the market so that the large block traders can take advantage of them.
Watch this video (put out by IEX) and think about how it's trying to manipulate people: https://www.youtube.com/watch?v=v2OZkTesSx0 https://www.youtube.com/watch?v=v2OZkTesSx0
- zhte415 11y agoFrom some content presented in Flash Boys, a question: Why would large block traders like to trade with someone pinging the market for 100 buy/sell orders, waiting for discovery, and then changing the price on other markets from information gained from these pings? If the market were rid of these pings, as the 350ms delay is intended to do? Or to put the same question another way, why would a large block trader not like all trades being done at the same price or at a better or equal price on other exchanges (discovered by IEX) rather than some of the block done at the original price and the rest done at a higher price because 'liquidity' was provided by HFTs driving up/down prices on other markets and then selling/buying from the large block trader this 'liquidity'.
- harryh 11y agoSee the comment up thread from kasey_junk: "In particular, large block buyers, who previously got to take advantage of inefficient price discovery to get better prices have been negatively impacted. It is in their best interests to make it possible to buy a very large amount of traded products without the price changing."