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Wall Street Enters Darker Age with Most Stock Trading Now Hidden
- deleted 2y ago[deleted]
- insane_dreamer 2y agowhat does "off exchange" mean exactly? buyers and sellers directly transacting with each other through what medium?
- s1artibartfast 2y agoyou can exchange stocks through most mediums. You can do it in person, by email, with a phone, or over Facebook. One example would be scenes from movies where you have traders on the phone negotiating with each other. you might find these links helpful https://www.investopedia.com/terms/a/alternative-trading-system.asp https://www.investopedia.com/terms/a/alternative-trading-sys... https://www.investopedia.com/terms/b/blocktrade.asp https://www.investopedia.com/terms/b/blocktrade.asp https://www.sec.gov/foia-services/frequently-requested-documents/alternative-trading-system-ats-list https://www.sec.gov/foia-services/frequently-requested-docum...
- crmd 2y agoI worked on the storage layer for one of them many years ago. The jankiest shit I had ever encountered. Just a couple of unpatched Sun servers and default untuned Oracle instances with no indexes and no IT people and just a few sales guys showing us where the computer room was. Shocked to learn six months later they were acquired by a global bank for over $1B. They are called “dark pools of capital”, platforms where if you and I are customers, we can trade equities without touching the public stock exchanges. There is apparently an enormous market here in the US for people who want to trade securities without the visibility of doing so on the NYSE and NASDAQ.
- everforward 2y agoI would guess cross trading, though I'm not 100% sure brokers do/are allowed to do that. Hedge funds do, but I wouldn't think they published stats on it. It's basically when an entity has opposing orders (like a buy and a sell) that can fulfill each other. Rather than hitting an exchange, they can just update their internal recordings of who owns what.