Hello. I understand that my questions are so naïve, but I want to thank everyone for reading and replying to my post. I want to trade highly liquid US equities at Nasdaq, NYSE and Amex. I used to think that four-letter stocks such as AAPL or BIIB are traded at Nasdaq and three letter stocks such as IBM or CNX are traded at NYSE only. However, I learn that US stock markets are evolving. Now stocks such as AAPL or IBM may be traded at NYSE, Nasdaq or AMEX or any other regional exchanges, or ECNs. Is this true? Where can I get more info on this? In addition, what is exactly an ECN? I learn that big ECN names such as ARCA, EDGX or BATS. How are they different from a market maker? How are they different? I was told ARCA can trade only 100K shares minimum for a particular stock. Is this true? If it is the case, I guess retail traders such as me will never be able to trade at ARCA. Thank you again for reading and reply!
BIIB is a Nasdaq stock... http://finance.yahoo.com/q?s=biib&ql=1 ECN is an Electronic Communication Network. Market makers and the general public can trade on ECN's. All stocks can be traded on ECNs.
Dear Vinny1, thank you for your reply. I know four-letter symbols are traded at Nasdaq. I guess my question should be stated this way: how many possible venues to trade Nasdaq stocks(AAPL or BIIB)? How many possible venues to trade NYSE stocks(IBM or CNX)? Thank you for everyone's reply.
as I recall any stock can be traded through any ECN. As for arca having a 100k share min. I believe that is false. When I traded at a prop firm, they would limit new traders to 100 shares and I remember trading arca bats etc. unless things have changed as of recent.
Hello, andy9775. If any stock can be traded at any ECN, what is the point to have tree stock Exchanges, NYSE, Nasdaq and Amex? This question may sound immature, but I really do not know the difference between ECNs and exchanges. In addition, I learned some big ECN names such as ARCA, BATS, EDGX. What are some differeences for these ECNs? I assume there must be some because we would just have one big ECN (instead of a few) otherwise. Thank you again for reading and replying.
companies that transfered from an exhange nyse or amex to nasdaq are allowed to retained their 3 letter symbol. http://www.reuters.com/article/idUSN1035911420070710 as to the rest of your questions show some initiative by googling or doing a search on ET.