@choffstein To clarify: what might be expressed as quote imbalance on one exchange, might lead to small price changes on another exchange if that exchange has lower fees and or smaller tick sizes
@choffstein If you have an exchange with smaller tick sizes/lower fees it might look like it leads because price will change earlier. Simply taking micro-price should already help with that..
@mr_plumpkin@AgustinLebron3@choffstein If i have information that is not on the market yet, what keeps me from hitting you first before i hit the market? I think as soon as you offer size this will be a big problem.
I think i understand the argument, but I'm a believer of 'incentives explain the world'. There is no 'deep state' if its not profitable. We should create systems that are maximaly hard to exploit. Concentration of power makes exploitation easy (sometines this is a natural phenomenom, many states with exploitable naturl resources are doing horribly)