Nyfix to Support "Shadow" Orders
VENDOR UPDATE
STAMFORD, Conn.--Nyfix has created a new order type for its Millennium alternative trading system (ATS) that allows traders to enter pegged orders with portions of the order sent to the Archipelago Exchange (ArcaEx) and matched via Millennium.
Officials at the transaction services vendor are slated to officially announce the new "Shadow" order type this week.
The practice of pegging an order involves conducting transactions in a security expressly for stabilizing or targeting its value through
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