Def, why do I see such a spread in this? The prints I'm watching are only a couple cents apart but the B/A on Best_ECN may be off by 12 to 14 cents? Any idea what is going on? Thanks
it would certainly help if you gave an example of a stock and the time. Make sure you have the most upto date version and if you still do not see proper quotes it would help if you sent the details to the helpdesk.
Thanks, I'll do that in the AM if it seems to persist. The stock was PRD as it came off that double bottom at about 8:00 AM PST. I deleted the entry for Best_ECN and made a new ticker for PRD just using the drop down BEST selection. The spread narrowed down to what I was seeing on the prints. The Rev I'm using was upgraded on Monday. Thanks
El Cazador, The BEST_ECN only shows the best bid and offer from ECNs, and that's all (no money makers or exchanges like NYSE). PRN is a NYSE issue, and not widely traded on ECNs, so you won't see good prices there due to lack of liquidity. PRN also has relatively low volume in general so yet another reason for the wide spread and difference. Check out an active Nasdaq stock like CSCO tomorrow and you'll see that BEST_ECN is usually right on or within 1 to 2 cents of BEST. Damon
damon, thanks for pointing that out. For NYSE issues you should use BestEx as there is little liquidity via the ECN's for NYSE stocks. I'm probably stating something that you already know but NYSE symbols will have 3 letters.
In the meantime we all received I think, a mail from IB reminding that Best ECN is not for listed [NYSE] stocks. it is a pity it is not available for QQQ anymore. well, I guess anyway, Island is the best route [not always best price though]. vpiNeo
Hello, What ECN does a non-marketable limit order reside on when using BEST_ECN execution? Island, Instinet, RDBK? thanks
FROM: INTERACTIVE BROKERS LLC June 06, 2001 Dear IB Customer, IB now offers you three ways to execute your stock orders. Depending on your preference, you may route your stock order through one of the following methods: Best Execution--Want to compare competing market centers? Choose our standard Best Execution option that scans exchanges and ECNs on the IB system, and routes your order to the best market. ECN Best--Designed for customers who prefer the speed and certainty of ECN executions. Our system will bypass traditional exchanges and market makers and route your order to the ECN on the IB network that is currently posting the best price. Choose Your Market--For even more control, simply route your stock order directly to the exchange or ECN of your choice. Also please note the following important points: --If you select ECN Best or route stock orders directly to a particular ECN, better prices may be posted by other market centers, and you may be foregoing the opportunity to have your orders executed at a better price elsewhere. --ECN Best applies to the over the counter market, not the listed market. --BRUT will reject orders that cross the BBO (best bid or offer). If you have any questions regarding routing choices for stock executions please email our Customer Service Department at help@interactivebrokers.com. Best Regards, Interactive Brokers LLC http://www.interactivebrokers.com