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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: furrfu who wrote (82307)6/20/2002 3:24:56 PM
From: public_heel  Read Replies (1) of 99280
 
Furrfu... I know you're kidding, but that's the way it works. The client wants to dump 1m shares without moving the price too far down. He hires a trading firm to "work" it for him. It is understood that the trading firm will make money. The terms may have a profit range that the traders are allowed, or they may be defined some other way. Since the trade went off at the then-current price, I'm guessing that that price allowed the traders to make the best profit they were allowed. The same funds or instiutions use the same traders over and over, so the traders have an incentive not to screw their clients.

Perhaps someone else on this board is more of a Wall Street pro than I am, and could elaborate on or correct this?
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