arca routed order

Discussion in 'Order Execution' started by daytrader06, Oct 16, 2006.

  1. does anyone here know anything about arca routed order, like
    1. does arca charge the fee for routing order outside of arca book
    2. how does arca routed order work
    any information related arca routed order is appreciated
  2. mnx



    arca charges .001 for routing... it'll route to just about any destination...


  3. ok. I see.
    if, say, i put a bid at 10 using arca rounted buy, but nyse specialist print at 9.99, does arca automatically route my bid to nyse such that I can get price improvement?
  4. mnx


    depends on the size of your order.

    If the nyse is displaying 500 shares at 9.99 and you bid 1000 arca routed at 10$, then 500 will route to the nyse @ 9.99 the rest will display on arca @ 10$.

    hope that helps.

  5. mnx
    you answer confirms my guess. thx

    where do you find above information. I tried arca web, it seems hard to find such information.

    Let's stand on another side, say bid to ask: 9.99 to 10.00. 1000 arca rounted shares on 9.99 posted at 10 o'clock. 1000 nyse shares on 9.98 posted at 9:30. Specialist is going to print 1000 shares at 9.98. then which 1000 shares would be filled, the arca rounted one or nyse one?