What happens if the quote is fake or will be canceled by the time your order reaches the exchange -- a common tactic of Chicago firms like GETCO?)
I'm curious - which FIX command is used to send a fake quote? And which exchanges support this feature?
Also, how does GETCO cancel an order before your order reaches the exchange? I.e., how does GETCO know to send it the exact instant before you send yours?
I'm curious - which FIX command is used to send a fake quote? And which exchanges support this feature?
Also, how does GETCO cancel an order before your order reaches the exchange? I.e., how does GETCO know to send it the exact instant before you send yours?