Is ‘Flashing' Just Indecent Exposure?

- WatersTechnology Staff
- 10 Aug 2009

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"Flashing" orders that they would otherwise have to route to the market with the best displayed price enables exchanges to attract liquidity they would normally have to give up, while offering price improvement for traders fast enough to respond. But suggestions that this created an uneven playing field and gave some firms a chance to front-run the market have forced venues to re-think their strategy.

Last Thursday, Aug. 6, Nasdaq, Direct Edge and BATS all announced plans to withdraw flash orders

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