Home » Blog » The Professional Page of Haim Bodek

The Professional Page of Haim Bodek

Haim Bodek, Decimus Capital Markets, here. Tabb Forum is rerunning his posts and e book pointer, here.

Over a good part of the past decade, special order types often were one of the primary topics of discussion between HFT firms and exchanges. Special order types became essential in assisting HFTs’ exploitation of the REG NMS regulatory framework introduced in 2007, which ironically was intended to strengthen the national market system. Exchanges introduced “innovations” such as preferential price-sliding and orders that “hide and light,” which assisted HFTs in circumventing impediments introduced by REG NMS that might have otherwise constrained the growth of HFT.

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