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It looks like MPL orders are undisplayed. Then how can they "display at a price but execute at a separate price"? Or, what does it mean when I read "The MPL ord
by jmilloy 15y ago
It looks like MPL orders are undisplayed. Then how can they "display at a price but execute at a separate price"? Or, what does it mean when I read "The MPL order is an undisplayed limit order that is priced at the midpoint of the Protected Best Bid and Offer (PBBO)" if it doesn't actually mean undisplayed.
edit: ah the above edit helps. thanks.
- lrm242 15y agoThere is confusing terminology amongst venues. The key points are: you can execute at the midpoint or at any discretionary offset from the primary or market.