Discussion in 'Order Execution' started by bouncy, Jan 4, 2007.
Anyone know anything about the new ecn "bats"?
There was an article in the WSJ about these guys middle of last month.
They are throwing away 5,000,000$ in january on advertisement through rebates. Charging 20 cents to remove liquidity while paying 25 to add. [per 100 shares]
When are IB going to offer BATS?
It's not new, it's been around a whole year now...
It's 30 cents to add not 20.
New ECNs have been coming and going... for 10 years.
So don't get too caught up in the hype.
But the key is always reaching "critical mass liquidity" which is roughly 10-15% market share...
Before you burn through your cash...
And BATS will likely achieve that.
Has anyone switched to BATS as a result of the January prices? I was tempted but am not sure how often ill be getting filled when adding liquidity and whether BATS can route out to all exchanges.
Also, how is BATS in terms of routing out when taking liquidity...will it route out to all ECNs (Nasdaq, Arca, Edgx)?
I'm finding that Nasdaq does not route out to EDGX but Arca does...what about BATS, do both Nasdaq and Arca route out to it?
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