5 ms·
What the linked article doesn't discuss is that it is possible to get a real-time notification when a trade occurs. The price of the last trade is the mid-poin
by cheddarmint 14y ago
What the linked article doesn't discuss is that it is possible to get a real-time notification when a trade occurs. The price of the last trade is the mid-point that you are referring to. Algo trading/HFT shops are listening for trades as well as quotes - this is how they know the price that trades are actually happening at.
- javert 14y agoSo what you're saying is that the subpenny price that the trades are actually executing at is publicly available?
- lrm242 14y agoYes. Every trade is publicly available. The price, venue, size, etc.
- cheddarmint 14y agoYep. Here's an example: http://www.google.com/finance?q=ABIO http://www.google.com/finance?q=ABIO When I checked this page, the last displayed trade was $0.737.
- retrogradeorbit 14y agoBut isn't this just the aggregate? How is every trade visible? Why, if its all free and public, do you have to pay so much for live data feeds?
- bradleyjg 14y agoAll trades are made publicly avaiable eventually. The lower latency you want the more you have to pay. And some trades aren't avaiable at low latency for any price.