![]() As I mentioned above, you really need to read Flash Boys. Thus, they have the ability to go directly opposite on a trade if it is profitable for them, in order to drive down the price - and we are talking about fractions of a penny - but they can also make big trades if they think it will be profitable - my assumption is that this would be on illiquid securities as opposed to say a trade on Apple. The problem I see with pfofs, is that for retail investors such as you and I, (and please someone correct me if I'm wrong) they get to see your order *before it is executed* as it is going through their exchange. I do know that my trades often get executed on BATS. ![]() Again, this is what I was told from one of the TD specialists, so I may be wrong. ![]() if you have the lowest price for the security or if your order is market vs limit, it will be executed quicker than say a limit order at the high bid. Not sure of execution time - I think that is a function of your price - i.e.
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