Order routings

Discussion in 'Order Execution' started by haoqfu, Oct 12, 2014.

  1. haoqfu

    haoqfu

    Hi, I'm pretty new here and having a question about order routing, any input is appreciated.

    1. Suppose I'm selling a million shares of AA on BATS at $14.80, and i only got half filled. will the rest of my order stays on BATS and wait to be filled even if there is a bid at $14.80 on other exchanges.

    According to my understanding, by rule 611, the order shall be filled on other exchanges, instead of being executed on BATS exclusively, am I correct?

    2. Again suppose I'm selling AA on BAT at $14.80, and there is a $14.82 bid on another exchange, will my order bet re-routed that exchange, and filled at $14.82 instead? or does it takes the liquidity from BAT first and then re-routed to the other exchange?
     
    Last edited: Oct 12, 2014