which ECN gives the highest rebate. Is it still EDGX? any specific routing strategy. I am looking my ECNs are really eating into my pnl. thanks in advance
I think the main BATS ecn (BATS X, BATX) currently offers the best rebate for adding liquidity... 0.0025 vs. 0.0023 for EDGX or FLOW.
yes; BATS is a tad better than EDGX. Have been getting those for the past couple of days and am loving it. One thing though i am not sure is which exchange is the best if i were to optimize both Rebate and Fills together. I dont think there is any quantitative information about that but would love to hear any opinions.. -gariki
ARCA is pretty popular among experienced traders for adding liquidity to get the best fills. If you don't trade a lot of size then that small difference in rebates might not be too big of a deal if you find yourself getting better fills. Might depend on what kinds of stocks you usually trade though.
Mostly trade ETFs. Currently trading SPY, IWM, EEM, FXI and a couple others. So you think ARCA is better from fills perspective? and my size is really small; just 100 or 200 shares at a time - so maybe it doesnt matter whether its ARCA or BATS. Going for max rebate for that reason. -gariki