"We risk becoming the best informed society that has ever died of ignorance"
- Rubén Blades

"You can't make up anything anymore. The world itself is a satire. All you're doing is recording it"
- Art Buchwald

"It's getting exciting now, two and one-half. Think of everything we've accomplished, man. Out these windows, we will view the collapse of financial history. One step closer to economic equilibrium"
- Tyler Durden

"It is your corrupt we claim. It is your evil that will be sought by us. With every breath, we shall hunt them down."
- Boondock Saints

Thursday, December 4, 2014

Direct Edge And Order Types, Sorry, Characteristics

The SEC Reg-NMS document calls light to "complex order types".  I find it weird that the SEC says "complex order types" yet Direct Edge BATS wants to now use the term "characteristic" to describe order types.

From the Reg-NMS Doc back in 2005 (Page 165, last paragraph):
Our near and oh-so-dear friends over at Direct Edge are seeking to no longer use the term "special order type" and will now desire to use the word "characteristic".  This decision was made in the months before it merged with BATS, something regulators most likely pushed for, much like they did when William O'brien was let go. 

From Direct Edge Filing With SEC In July 2014 (Page 10)
Who knows.  Screw Direct Edge, after all in-case you may have missed it, VICE did a sick bit on Bodek's trip to hell and back thanks to the snakes at BATS and Direct Edge...everyone needs some edge, right Billy Boy?  It's all in "good faith".