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by noodles_nomore
1552 days ago
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The book Flash Boys deals with this. It's a long time since I read it, but IIRC brokers need to split large orders and route them to different exchanges to get the best price (which is required under 'best-effort execution'). These orders will hit the exchanges at different times giving enough time for HFT to observe them at one exchange and front-run them at the other. |
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Is a hopelessly bad book. It's a thinly disguised advertisement for IEX.
> front-run
I do not think it means what you think it means.