A split order is in reference to how the trade is executed.

When a Block is too large to fill at any one liquidity provider, it gets “split” into smaller orders executed across different exchanges and liquidity pools.

As such, Blocks and Splits are extremely similar and have an almost identical effect on markets.

An example would be if EDGX was able to fill half the order, so then they had to go to AMEX for the other half.

Questions or suggestions?

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