Concerning Fidelity's IEX routing...

  1. I see what you're sayinig. You'd have to ask Fidelity if they're internalizing from their own stash or seeking shares at market from outside inventory. I don't think anyone here has any kind of way to get that info unless you ask them, and I don't know if it's in their purview to disclose that. Worth a call and ask though. It's actually a good question.

  2. Your post is all over. So fidelity had a stash prior to and during the first migration. Anyone who transferred, had to be provided a share by the originating broker, or fidelity could go to market at said brokers expense.

  3. If you're bothered enough to post about this on the internets, go and research (i.e. search & READ) how these DTC, DRS, Cede&Co, etc. mechanisms work, instead of posting nonsensical tinfoil theories that add nothing of value to the community.

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