We were reading through a NASDAQ proposed rule change on the SEC’s website dated June 14th, which details how NASDAQ wants to provide their HFT customers a way to comply with the stub quote rule, and price bids and offers using new automatic order types priced typically 8% away from the NBBO. NASDAQ of course says they will provide the order types, but leaves the compliance issues around the short sale rule to the client. This is akin to posting a “No Fishing” sign at a pond, where the
This content is restricted to site members. If you are an existing user, please login. New users may register below.