Does anyone know a broker that offers this? The Automatic Execution system (Auto-Ex), designed specifically for Exchange Traded Funds, provides instantaneous execution of round lot orders received via the Amex Order File (AOF). This includes orders entered from off of the trading floor via CMS as well as those entered from on the Amex trading floor through the Booth Automated Routing System (BARS). Download the ETF Auto-Ex List Questions pertaining to ETF Auto-Ex should be directed to Robert Malvino at (212) 306-1606 or the Amex Service Desk at (212) 306-1763. Similar to NX?
All regionals offer auto-ex. Philly, Boston, and Chicago. If market conditions warrant manual then it will be. Also, they usually don't work if the markets are locked or crossed, then it goes to manual. NYSE also offers NYSE Direct+ which is similar to auto-ex but a little different. Check out my hand book and it talks all about it. Click here for The Execution Specialist Jeff-- OES
Can someone please offer some insights on the pros and cons of routing ETF orders via AMEX vs. the NYSE. I was looking at time and sales and it seems like AMEX totaly dominates the NYSE. If I were to put out limit orders, where would it be treated better. i.e. faster cancels, fair fills,etc. My limit orders would tend to be in the middle of the b/a spread 100-500 shares at a time. Thanks