HN: Can HFTs front-run retail investors by asking their discount brokerage what their limit orders are? Me: Those words, they do not mean what they think you mean.
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A stock exchange exists to collect buyers and sellers and assist in their ability to transact, producing (as a side effect) widespread public knowledge of market intentions which assist in price discovery.
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I think what the user is asking is whether the HFT can get the order from the broker *before it's sent to the stock exchange* (possibly by suborning the broker to delay its submission to the exchange).
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One thing is that l2 data is usually not free (especially historical l2 data). Even robinhood only offers l2 data if you pay $5 a month.
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