A Liquidity Fairy-tale

Introduction This article is about the prices you pay or get when you buy or sell shares. It may seem somewhat technical and arcane, but please bear with me, as those prices can have a significant effect on your investment results and hence this issue affects all investors. I will cite a specific example which illustrates how much existing systems that your broker offers are costing you. Quote Driven Markets vs Order Driven Markets There has been a longstanding debate about the merits of ...
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