Just had a thought. In Australia a lot of retail investors use live platforms to enter their own orders into the system. What is to stop the broker analysing this data to get a feel for what the traders and the market in general is doing??? Illegal maybe, but does not mean it doesn't happen.
Brokers could look at data like all the conditional orders on their platform, and also have that split second advantage when you enter your order in and it goes into the "Confirm" screen before being submitted. I know that I have sometimes been beaten to a share by split seconds when the share was not very active before (conspiracy theory he he)
I suppose we could all start putting in ridiculous conditional orders as well as leave a lot of orders in the confirm screen without final submission to throw off all the algo traders.
