Hi, I know almost nothing about Alpaca beyond what I have read for an hour or so. I am at IB and use their MidPrice algo for order execution. I haven’t seen that Alpaca offers this straight out of the box.
Is the API capable of this? Is this type of Order even allowed or effective given PFOF?
For clarity, what the MidPrice does, is it places an order at the midprice of the Bid/Ask spread. So it will need current Bid Ask streams (I don’t need to use Alpaca’s data) and will be canceling and replacing the order as the spread changes and/or when the market moves.