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No longer available on lit US equities. A failed experiment by exchanges to compete with internalizers by providing the opportunity for price improvement to those orders who elect to be shown to participants prior to posting or taking.

Can you think of one active in today's market?



On which instruments are flash orders still operational?


In US equities? None on lit venues. I'm sure some dark pools still handle IOIs.


Outside of US equities.


No idea. My game is US equities.




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