Hot answers tagged order-handling
5
The "price protection" refers to RegNMS in the US. A stock exchange that does not have the best price must route all order flow to the exchange that does. The SIP in the figure is a consolidated feed that lists the best price among all exchanges.
Consider this example: a broker sends a market order to buy JNJ to NYSE where the best offer is \$86.97. ...
Only top voted, non community-wiki answers of a minimum length are eligible
