HN commenter, paraphrased: "HFTs pay brokerages money to see non-executed limit orders! That's outrageous." Literally anyone can pay a trivial amount of money to see non-executed limit orders on the order book at a stock exchange, which exists in large part to do exactly this.
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Replying to @patio11
Don’t they pay the money to be able to front run you?
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Replying to @davidiach
*sigh* No. Specialized firms (internalizers) pay your brokerage for the opportunity to fill your order prior to it hitting the public markets by offering as-good-or-better of the NBBO (best price anywhere), which they can do because you're not informed order flow.
12:22 PM - 25 May 2019
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