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I'm not thinking retail brokerages -- I'm thinking investment banks like Goldman. Often the big i-banks have both prop trading operations and the ability to fil
by exelius 13y ago
I'm not thinking retail brokerages -- I'm thinking investment banks like Goldman. Often the big i-banks have both prop trading operations and the ability to fill large orders for institutional clients (e.g. a pension fund looking to buy $1 billion of Apple stock).
- reverend_gonzo 13y agoFor them, they have a fiduciary duty to their clients to act in their customers' best interest. So, if their clients asks to purchase, for example 100,000 shares of AAPL, it would be illegal for them to first drive up the price.