Hi booker - correct it is not a level playing field. Maybe never...

Hi booker - correct it is not a level playing field. Maybe never has been ............But do authorities worry maybe not ?

Those 1 - 2 - 3 etc small trades are most likely 'Algo Trades' done by a programmed computer.

Brokerage - lets us say you put on a Buy order (Sell it does not matter) for 4,000 at $??? and during the day there are sellers /buyers and of course -the Algos, a computer programmed to say 'feed out ' slowly 1-2 5 -50 etc etc. up to say 10,000 or whatever --also programmed to 'price/quantity adjust' on any 'news' 'announcements' (Yep I believe the programs can read and assess the Anns.) So as the Buys /Asks (Sells) move so does the Algos . There are many types of 'Orders' -at market- set /forget -fill/kill-etc etc....and the Algos !!!!

Your order is filled with say10 -23-60-2 -125- small trades.. At the end of the day the trades are added up and providing there has been no amendment -to quantity- to your original order the brokerage would be the $15. If you changed your quantity then the additional order maybe taken as a new order and that order treated as such. Maybe same for (I believe) the Algos. If you changed the price then you lost your place in the queue if you reduced your quantity but left price as was you stayed as is.

I have not taken the Brokerage v Quantity into consideration regarding any sliding price scale for quantity or value of the trade.

Also if you did not get your order totally filled that day or days later, the first trade would take the full brokerage but the rest until your order is filled - there would be no brokerage on the rest of the trades.

Now please note I left the Brokering business just as these 'Fu ?>4F%# &*&^%4 ' Algos were starting not a happy scene at the time.
So things could have changed to the system brokerage etc etc . in what I knew. I also do believe the systems in place then could not have kept up with todays trading. Do you ever remember the 'Chalkies' mainly guys who walked backwards and forwards in front of chalk boards that were elevated recording buys sells by hand. The orders were called out from the Trading Floor by Operators...........It was great to watch - total organised chaos...great to watch a 'hot' stock move.

Anyways --- memories.

Also do not forget there are genuine small trades required to meet winding up of Estates etc ....

Hope that helps a little. Happy to be corrected.

Keep safe all - getting closed to launch day?