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How Your Buy Order Gets Filled


Trades increasingly occur at high speeds over fiber-optic cables. Some stocks are traded on public exchanges, while other orders are handled by big brokerages on private venues known as dark pools.

Graphic by Bloomberg Businessweek; Data: Tabb Group, Rosenblatt Securities
Philips_190
Philips is an associate editor for Bloomberg Businessweek in Washington. Follow him on Twitter @matthewaphilips.
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Hoffman is design director for Bloomberg Businessweek. Follow her on Twitter @cornfact.

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