does SCHB = cybertrader???

Discussion in 'Trading' started by the_dude, Dec 20, 2001.

  1. does anyone know if MMID SCHB carries orders from cybertrader customers?

    just curious
  2. Trayder


    Don't know the exact answer to your question. But, Schwab did buy out Cybertrader. So, I would hazard a guess that they would.
  3. I doubt it. It probably the Schwab Market Makers, not retail.
  4. If I am a Cybertrader customer and I place an order (it is direct access) how would the order get to SCHB?! If I bid it out with no matching offer, I am doing it via an ECN and it would not go to SCHB. If I take an offer, it is either a MM's offer via SSOES or another ECN Traders offer (or I suppose SNET if I am stupid). Same on the flip side if I am selling. So my order cannot get to SCHB. And their "Smart" execution would simply do one of the above based on market conditions at the time of the order.
  5. janko


    is schwab capital markets, its schwabs market maker, all schwab clients that do not use cyber trader or the new streetsmart pro which has direct access rounting capabilities , all the rest goes to the schwab capital markets market maker./
  6. Magna

    Magna Administrator

    My understanding is that Schwab uses the market-maker MASH for all it's retail order flow.
  7. janko


    it was mash which was mayer schweitzer but then there was a name change to schwab capital markets, or at least schwab doesnt use mayer schweitzer. i'm not 100% sure but i think thats what happened. i havent looked on level2 recently but i dont think mash shows up anymore, its schb. yeah i'm pretty sure thats what happened.