Biggest ECN rebate

Discussion in 'Order Execution' started by larrydavid, Sep 12, 2011.

  1. 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
  2. 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.
  3. 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..

  4. 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.
  5. 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.

  6. thanks guys!