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📜 SIDE QUEST · DEEP DIVE
· ◆◆◆ · ~10 min
Tick Size & the Make-Take Debate
Tick Size & the Make-Take Debate
"Two design knobs that quietly determine who gets paid on every trade — and the natural experiments that showed what they actually do."
tick size as a binding constraintdecimalisation and its effectsthe SEC Tick Size Pilotmaker-taker and taker-maker fee modelsrebates and the broker routing conflict
A short lesson, then a quiz. ❤️×3 — a wrong answer costs a heart; finish with at least one left and the level is yours. Lose all three and you'll have to try again. Replay any time — XP and cleared levels are never lost.