Inter-dealer brokers? Or are those covered under wholesalers
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One of those SDPs is not like the others
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Rebates and affiliate routing
@FINRA@SECGov@SEC_Enforcementpic.twitter.com/YwP1F3pfj6
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Basically buy not exactly. ATS are very different from wholesalers and SDPs (which are very similar) besides they don’t have lit quotes. Missing a few exchanges. Buy side doesn’t go direct to wholesalers. Sips controlled by exchanges. So data really goes from venues to exch.
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"Buy side doesn’t go direct to wholesalers." Not true in many cases.
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I am not seeing
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