Filtering by Tag: trading

US Stock Trading Spaghetti Bowl Statistics

Added on by C. Maoxian.

Lit Venues reporting 49.22%:

NYSE 19.09%

NASDAQ 14.18%

CBOE 10.04%

MEMX (Members Exchange) 1.90%

IEX (Investors Exchange) 2.99%

MIAX Pearl 1.02%

LTSE (Long-Term Stock Exchange) 0.01%

Dark Venues reporting 50.78%: (“reporting transactions effected otherwise than on an exchange”)

FINRA & TRF (Trade Reporting Facility) 50.78%

NASDAQ TRF Carteret 45.01%

NYSE TRF 5.47%

NASDAQ TRF Chicago 0.30%

EDGA Fee Codes and Associated Fees

Added on by C. Maoxian.

Fee Code Description Fee/(Rebate) Securities at or above $1.00 Fee/(Rebate) Securities below $1.00

10 Routed to NYSE Arca, adds liquidity (Tape B) (0.00220) 0.00000

3 Adds liquidity to EDGA, pre and post market (Tapes A or C) (0.00270) (0.15000)% of Dollar Value

4 Adds liquidity to EDGA, pre and post market (Tape B) (0.00270) (0.15000)% of Dollar Value

6 Removes liquidity from EDGA, pre and post market (All Tapes) 0.00300 0.15000% of Dollar Value

7 Routed, pre and post market, removes liquidity 0.00300 0.30000% of Dollar Value

A Routed to NASDAQ, adds liquidity (0.00150) 0.00000

AX Routed to EDGX using ALLB routing strategy 0.00300 0.30000% of Dollar Value

AY Routed to BYX using ALLB routing strategy (0.00020) 0.10000% of Dollar Value

AZ Routed to BZX using ALLB routing strategy 0.00300 0.30000% of Dollar Value

B Adds liquidity to EDGA (Tape B) (0.00270) (0.15000)% of Dollar Value

BB Removes liquidity from EDGA (Tape B) 0.00300 0.15000% of Dollar Value

BY Routed to BYX using Destination Specific ("DIRC") or ROUC routing strategy (0.00020) 0.10000% of Dollar Value

C Routed to NASDAQ BX (0.00050) 0.10000% of Dollar Value

CL4 Routed to listing market closing process, except for NYSE Arca & BZX 0.00100 0.30000% of Dollar Value

D Routed to NYSE or routed using RDOT routing strategy 0.00280 0.30000% of Dollar Value

DD Adds liquidity using displayed MidPoint Discretionary order not within discretionary range (0.00270) (0.15000)% of Dollar Value

DM Adds liquidity using MidPoint Discretionary order within discretionary range (0.00200) (0.15000)% of Dollar Value

DN Adds liquidity using non-displayed MidPoint Discretionary order not within discretionary range (0.00200) (0.15000)% of Dollar Value

DQ QDP Usage fee, adds liquidity (0.00200) 0.30000% of Dollar Value

DX QDP Usage fee, removes liquidity 0.00300 0.30000% of Dollar Value

F Routed to NYSE, adds liquidity (0.00150) 0.00000

G Routed to NYSE Arca (Tapes A or C) 0.00300 0.30000% of Dollar Value

HA Non-displayed order, adds liquidity (0.00250) (0.15000)% of Dollar Value

HR Non-displayed order, removes liquidity 0.00300 0.15000% of Dollar Value

I Routed to EDGX 0.00300 0.30000% of Dollar Value

J Routed to NASDAQ 0.00300 0.30000% of Dollar Value

MM Non-displayed order, adds liquidity using Mid-Point Peg (0.00250) (0.15000)% of Dollar Value

MT Removes liquidity designated as Mid-Point Peg from EDGA 0.00300 0.15000% of Dollar Value

N Removes liquidity from EDGA (Tape C) 0.00300 0.15000% of Dollar Value

NA Routed to BZX, EDGX, NYSE, NYSE Arca or Nasdaq; adds non-displayed liquidity Free 0.00000

NX Routed to NYSE National using ROUC routing strategy (0.00050) 0.00000

O2 Routed to listing market opening or re-opening cross 0.00100 0.30000% of Dollar Value

OO EDGA Opening or Re-opening Free 0.00000

P Routed to EDGX, including pre and post market, adds liquidity (0.00160) 0.00000

Q Routed to a non-exchange destination using ROUC routing strategy 0.00200 0.30000% of Dollar Value

RP Non-displayed order, adds liquidity using Supplemental Peg (0.00250) (0.15000)% of Dollar Value

RR Routed to EDGX using DIRC routing strategy 0.00300 0.30000% of Dollar Value

RT5 Routed using ROUT routing strategy 0.00280 0.30000% of Dollar Value

RX6 Routed using ROUX routing strategy 0.00290 0.30000% of Dollar Value

RY Routed to BYX, adds liquidity 0.00200 0.00000

RZ Routed to BZX, adds liquidity (0.00160) 0.00000

S Directed ISO 0.00330 0.30000% of Dollar Value

SS Sets the Setter NBBO on a symbol not included in the NBBO Setter Excluded Securities List (0.00300) (0.15000)% of Dollar Value

SW3 Routed using SWPA routing strategy (except for removal of liquidity from NYSE) 0.00310 0.30000% of Dollar Value

V Adds liquidity to EDGA (Tape A) (0.00270) (0.15000)% of Dollar Value

W Removes liquidity from EDGA (Tape A) 0.00300 0.15000% of Dollar Value

X Routed, adds or removes liquidity 0.00300 0.30000% of Dollar Value

Y Adds liquidity to EDGA (Tape C) (0.00270) (0.15000)% of Dollar Value

Z Routed to a non-exchange destination using ROUZ routing strategy 0.00120 0.30000% of Dollar Value

Virtu's Note on Competition from 2024 Annual Report

Added on by C. Maoxian.

The financial services industry generally, and the institutional securities brokerage business in which we operate, are extremely competitive, and we expect them to remain so for the foreseeable future. Our full suite of products does not directly compete with any particular firm; however, individual products compete with various firms and consortia.

Within the market making segment, our competition has been registered market making firms ranging from sole proprietors with very limited resources to large, integrated broker-dealers. Today, a range of market participants may compete with us for revenues generated by market making activities across one or more asset classes and geographies, including market participants, such as Citadel Securities, Susquehanna International Group LLP, Two Sigma, Jane Street, DRW Holdings, IMC, and Optiver.

In the execution services segment, our low-touch agency algorithmic execution and smart order routing products, as well as our high-touch agency execution and portfolio trading services, compete with agency-only and other sell-side firms. Our trading and portfolio analytics compete with offerings from several sell-side-affiliated and independent companies. Our POSIT and MatchIt ATSs (Alternative Trading Systems) compete with various national and regional securities exchanges, ATSs, Electronic Communication Networks, MTFs (Multilateral Trading Facilities) and systematic internalizers for trade execution services. Our EMS (Execution Management System), OMS (Order Management System), connectivity and RFQ (Request For Quotation) services compete with offerings from independent vendors, agency-only firms and other sell-side firms.

Some of our competitors in market making and execution services are larger than we are and have more captive order flow in certain assets. Technology and software innovation is a primary focus for us, rather than relying solely on the speed of our network. We believe that our scalable technology allows us to access new markets and increase volumes with limited incremental costs.

#whocouldanode League Table

Added on by C. Maoxian.

Q1 2025 PIPE and Private Placements, Ranked by Transaction Count

Placement Agent Name | Transaction Count | Total Amount Placed

  1. H.C. Wainwright & Co., LLC 36 $1,038,475,949

  2. Maxim Group LLC 22 $125,005,869

  3. A.G.P./Alliance Global Partners 18 $209,619,917

  4. Leerink Partners, LLC 12 $1,144,224,648

  5. Roth Capital Partners, LLC 7 $368,712,002

  6. Aegis Capital Corporation 7 $81,200,000

  7. ThinkEquity, A division of Fordham Financial 7 $51,354,942

  8. Dawson James Securities, Inc. 7 $45,962,746

  9. Cowen and Company, LLC 6 $558,913,347

  10. Piper Sandler & Co. 6 $418,976,648

  11. J.P. Morgan Chase & Co. 5 $947,249,996

  12. BMO Capital Markets Corp. 5 $945,538,095

  13. Jefferies LLC 5 $680,509,243

  14. Lake Street Capital Markets, LLC 5 $199,690,000

  15. Univest Securities, LLC 5 $49,804,028

  16. D. Boral Capital LLC 5 $31,200,000

  17. RBC Capital Markets, Inc. 4 $750,000,000

  18. CIBC Capital Markets Inc. 4 $720,038,095

  19. Bank of America Merrill Lynch 4 $717,000,000

  20. William Blair & Company, LLC 4 $361,941,440

  21. Guggenheim Securities, LLC 4 $302,499,979

  22. Titan Partners Group LLC 4 $148,100,012

  23. BTIG, LLC 4 $131,274,995

  24. Scotiabank 3 $700,000,000

  25. TD Securities (USA) Inc. 3 $700,000,000

Source

How To Stop Windows From Updating, Permanently

Added on by C. Maoxian.

I run a trading bot from a local Windows 11 machine. The other day Windows 11 updated in the middle of the night and restarted itself, thus crashing my bot and everything else. I missed over $30,000 in pre-market profits as a result. If I had been lucky, this would have happened when I had over $30,000 in pre-market losses. :-)

There are all kinds of sketchy solutions online suggesting how to stop Windows from updating. Don’t do any of those.

I asked the guys who built my computer what I could do to prevent this from happening in future. They remotely installed Wub_v1.8 and said that it would take care of things. I hope they’re right!

MIAX Pearl Equities Exchange Identifiers

Added on by C. Maoxian.

Exchange Codes:

  • Bloomberg: VP

  • Blue sheet – Exchange Code: 8

  • Blue sheet – Requestor Code: 7

  • CAT Destination Code: PEARLEQ [Consolidated Audit Trail]

  • CAT Market Center ID: H [Consolidated Audit Trail]

  • CAT Related Market Center ID: S [Consolidated Audit Trail]

  • CAT Participant Code: PEARLEQ [Consolidated Audit Trail]

  • ECAT Code: H

  • FINRA Short Interest Reporting Code: Y

  • MIC Code: EPRL [Market Identifier Code]

  • MIC Code (Dark): EPRD [Market Identifier Code]

  • OATS Destination Code: XH [Order Audit Trail System]

  • OATS Market Center ID: H [Order Audit Trail System]

  • RIC Code: .MP [Reuters Instrument Code]

  • RIC Trade Exchange ID: MPE [Reuters Instrument Code]

  • SIP Code: H [Securities Information Processor]

  • Thomson One Exchange Code: NP

  • UTC Market Code: 190 [Universal Trade Capture]