075: Dan Aisen – The Mechanics of a Dark Pool, and a Quest to Make Markets “Fair” w/ IEX Co-Founder
Chat With Traders
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How Brad Rebuilt RBC's Trading Platform From Scratch
RBC at the time had an existing electronic trading platform. Brad took over that team and basically kind of rebuild that platform. He wanted to figure out what was going on there and build a tool so that you could actually buy what you saw available. So we ran experiments where we would try this and we would send all orders to just one exchange at a time, then we'd send orders to two exchanges. And as we were running these experiments, we realized that definitely wasn't the case. If you sent one order to one exchange, you always interacted with all of the shares that exchange had available. No one was fast enough to get out of the way once our order got there. It
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