4 ms·

False - HFT firms have access to special order types. Example is Hide Not Slide, which is mentioned in the book and also here [0]. [0] http://online.wsj.com/ne

• consz 13y ago
  Why do you believe only HFTs have access to hide not slide? That order type is plainly listed on DirectEdge's website, e.g. https://www.directedge.com/Portals/0/01Trading/Trading%20Products/Order%20Types/Order%20Type%20Guide.pdf https://www.directedge.com/Portals/0/01Trading/Trading%20Pro...
  • asdfologist 13y ago
    As doktrin said, they were originally concealed.
    • yummyfajitas 13y ago
      [citation needed]
    • NkVczPkybiXICG 13y ago
      When the orders were added, there was a modification to the FIX specification for the exchange. For example: http://www.directedge.com/Portals/0/docs/Direct%20Edge%20Next%20Gen%20FIX%20Manual.pdf http://www.directedge.com/Portals/0/docs/Direct%20Edge%20Nex.... It is everyone who trades on that exchange's responsibility to stay up to date with what's available, and how it interacts with their trading strategy. "concealed", in this context, just means "too lazy to carefully read the documentation".
• fr0sty 13y ago
  any exchange member may submit a hide-not-slide order. there is nothing secret about them.
  • asdfologist 13y ago
    They were originally concealed.