It's worth repeating this excellent post:
"100 share trades--another view..
and a,logical one at that. This is from BigBake1. Don't agree. Find him and take it up with him. He has his own board.
Quote:
--------------------------------------------------------------------------------
GNCP is a dumpfest of mega proportions and it is because of this dumping of billions of newly issued shares there are transactions being reported to the tape for “fees”. Someone is routing their orders through different MMs on purpose to hide their dumping transaction. A flat rate per transaction is assessed based upon the PPS at the time of sale. Due to routing there is an additional fee applied for each and every transaction routed through a specific MM nor ECN, this is simply market making.
Oddly enough, someone buying 911 shares per trade are causing the routing fee to be assessed, of course the trade size doesn’t matter at all, but the each transaction from the block position is going to result in a 100 share trade for the routing fee assessed. The reason I am pointing out the 911 transactions is because it is retail manipulation trying to create volume based upon potential news coming. Of course it is a myth predicated on MMs signaling using small transactions on the consolidated tape reports to drive market price. Such transactions are in fact flagged and that retail depending on the broker may receive a phone call or message from their broker to knock it off.
Less one thinks that buying or selling to manipulate price based on 100 share transactions or any small transaction in order to prop up price or manipulate volume doesn’t get regulatory attention, they need to think again. Last year a retail trader was in fact doing so and was the subject of an SEC complaint, in one security he wasn’t even benefiting from the transactions. Nothing spells disaster like regulatory fines and trading restrictions on a losing trade transaction due to painting the tape..... lol "
News 
Market Data 
Discover 
