Exchanges and stocks - amateur question

Discussion in 'Stocks' started by Danedo, Feb 26, 2009.

  1. Danedo

    Danedo

    Hi. Amateur question here.

    I've been 'messing around' with stocks abit, using TradeKing.

    Recently I had the chance to see Interactive Brokers in action and the question is this:

    In TK, when you buy a stock, say GOOG, you simply... click buy.

    In IB, you can choose the exchange.
    Example:
    GOOG Stock SMART USD NMS
    GOOG Stock ARCA USD NMS

    and so on.

    What is the difference? What is going on that I cannot see in TK?

    Pardon the ignorance,

    Dane