mmmm...let me see...and excuse me cuz i'm slow is this saying that from EDGA http://www.directedge.com/Fee_Schedule.aspx?s=subscriber removing liquidity from NYSE is for free ¿?
I do 200,000 shares/day on about 400 trades... And after 15 years... I do not even know what the ECN rates are. My profit margins are in the low 70% range in normal markets.. (That's well over $0.01/share net)... So my priority is to maximize volume... As opposed to maximizing rebates... So IB SMART works great for me... Even though they usually do crazy shit... Like execute 100 NYSE, 100 Island, and 100 SMART for a 300 share trade... (They do this a lot)... But at 0.0035/share... I can't complain.
There are two different ECNs 1. Getco. Believe it or not it is free to remove liquidity. 2. EDGA, have it routed to RDOT that way it tries to hit the EDG book first which is free, and then it will try NYB which will cost .0008, and if still nothing you will get routed to whatever ECN and pay .0030. hope this helps
that's BS and reading ur post till the end confirms the contradiction. U may mean don't know'em exactly, cuz, indeed, with so many and usually changin with time, after some long one doesn't care anymore and it's understandable, but to say u don't know... no pun intended regards and apreciated ur input
Give me a little info about your trading so I can maybe better help you? 1. What execution software are you using? 2. What Brokerage firm do you trade thru? Do they offer NITE as a destination, if so do they charge for NITE? 3. Why do you have to add using ISE? Are you credit trading for rebates? Are you running automated trading? 4. What is your average order size per trade? 5. What type of stocks do you trade, mostly NYSE or mostly Nasdaq or an even mix of both? Are the stocks you trade above $1 in price? 6. What is you average monthly share volume? These things determine what the best destination route for you to use is.
ty very much tomu for all the help. Can't really answer all those questions though saying it is from a prop mostly sumarizes it all. Besides that, i've already found what was looking for and it's called NQBX, which pays for removin liquidity. Proven. Not much, and not as liquid as other ECNs, but works fine for me. Also tried EDGA and also worked fine, though much better if can get paid Again, ty very much tomu! very much apreciated regards