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Comment: Terminology (Score 3, Informative) 303

by rla3rd (#46878401) Attached to: SEC Chair On HFT: 'The Markets Are Not Rigged'
I used to work as a trader for a major wall street firm. Slight correction in the terminology. If you are bidding the stock you are a buyer, If you are offering the stock you are a seller, regardless if the price you want to buy/sell at is on the bid or ask. If the bid/ask is $1.00/$1.01 and you offer $1.01, you are offering to sell at $1.01, and become part of the offered volume at $1.01. I know, I know, I sound like a bit of a prick pointing out the nuances. But you'd be in for a world of trouble in a pit or on a phone order offering a ton of stock if you were a buyer.

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