Eric,
That is most definitely within the Instinet subscribers' functionality, and widely used. There is the option of, whether using the proprietary terminal or the Windows NT session, placing a reserve- or reserve/refresh order, which is to say, having 10K to go and showing 1,000 at a time, for example. Subscribers may choose whether or not they want to be shown to other Instinet subscribers as having reserve size. So, other subscribers may or may not see that some anonymous entity is a reserve buyer or seller.
Also, reserve orders may be designated as 'pegged' (executed at or near the midpoint of the spread as the stock moves up or down); 'inside' (offer side for buys, bid side for sells); or 'primary' (bidding to buy, offering to sell).
LPS5 |
