First, I'm new to L2 and DAT ... On my broker's Time and Sales I saw symbols C and S: Broker explained that C is Cincinnati and S is Nasdaq; and that ECN transactions don't show on T & S; that Cincinnati is a new exchange somehow linked to Island. Questions for ET masters: 1) So if I route an order to ECN, and filled, that transaction does not show on Time & Sales? 2) what exactly is the relationship between Cincinnati and Island; when did Cincinnati start; if I just want a quick fill on a limit order, where should I route it, Island or Cincinnati? What are the advantages and disadvantages of using Island vs. Cincinnati? 3) Assuming there are significant differences between Island and Cincinnati, if I route an order to Island only, does the order just stay on the Island book until it is filled or also sent out to Cincinnati? You could give general answers to cover the questions above. Thank you.
Read this link on Island's website, which explains their involvement with Cinnci. http://www.island.com/corp/press/pressreleases/release20020913.asp