Jay, EDGA has two routes that go directly to the floor after attempting to match on their free book, RDOT and RDOX. It would be the same behavior as EDGX, but the match on the book is free. The difference between RDOT and RDOX is that RDOX is a non routable (DNS) order that does not go to Dark pools before the floor. And keep in mind the NY just raised it's rates today. This should help bring your blended rate down from the NYSE charge. Hope this helps
Does anyone know a site that has up-to-date information on NYSE gateways, their fees, routing procedures, etc? I think this would be useful for Jay (and potentially other traders, including myself) but I can't seem to find anything.
route through edga its free. not all brokers have it though. your supposed to get printed on the best price even if your routed out and pay more for it. if your getting slippage jump to a faster platform
I have seen trades with both BATS and EDGX which looked very suspiciously like the above scenario on thinner stocks. With a normal edgx (bats) marektable order, is the routing order edgxbook(batsbook) - darkpools - other displayed ecn's? I am not clear on if a normal bats marketable order hits darkpools also.
That's my understanding for EDGX, yes. Not sure about BATS. To tell you the truth, I'm not aware that BATS routes to dark pools, although this very well likely could be true.
any update on this ? got to this googlein on "cheapest ecn nyse" as top of list, so go figure. I'm using Millenium (nyfix.com) but they seem to be pretty slow, though cheapest charges i've found for killin ( removing liquidity ). I've read something about INET RASH DOTD as a better option for the same purpouse but still searchin. Also used EDGX for addin but movin into ISE ( somebody asked for links : http://www.ise.com/assets//documents//OptionsExchange//legal/fee/fee_schedule.pdf ) but most interested in a cheaper one for killin c if popin up the thread works fine regards
Cheapest for removing liquidity: Tape A, NYSE stocks - DirectEdge RDOT route = .0018 to remove liquidity (this route typically gets filled 10% of the time on EDGA which is free, so real rate is .00126) Tape C, Nasdaq stocks - BATS = .0025 to remove liquidity and .0026 for routing out Stocks priced under $1 - BATS = Free to remove liquidity *INET RASH DOTD* is no longer available
What the OP is experiencing is likely due to EDGX "Flashing" his orders and HFT shops executing ahead. Soon to be outlawed. Side note: I see lots of trading jargon thrown around on ET by people who don't know any better. Guys, the term "hitting" is specific to selling. You do not "hit" the offer. You hit bids, you take or lift offers. If you call any trade desk on the Street and tell them to hit something, they are pulling a sell ticket. If you tell them to hit the offer, they will hang up in your face.
heyyy ty tomu! very much apreciated, i'll check it out if i can have it available, if it worked out, that would be almost half less than millenium wich is if i recall correctly 0.002, and also will check if faster or slower also thinking OES http://www.tradeoes.com/?q=news/2007/278 is another option though haven't neither checked nor anything, and also i've read of another one that even would pay... so, particularly tomu, do u have any prefered option ? I kinda "have to" add and actualy using ISE to do so, but i'd remove more if found better option thanks in advance regards!