Getting price improvement

Discussion in 'Order Execution' started by GlennC, Jan 18, 2010.

  1. GlennC


    If I am hitting the bids, is there a way for me to get price improvement more often?

    What I have tried so far:
    Suppose EDGA is there and so are a bunch of other ECNs.

    If I hit a dark pool, I can screw myself by paying a 18 cent rebate. The person/computer filling the order might sub-penny everybody else (sometimes, sometimes not) and give 0.01/cent share extra. So that is not smart.

    2- On C, if you are trying to BUY, you can post at the BID on BATS and get filled right away. You have to pay the credit for REMOVING liquidity. But this is dumb, because if you get filled you are probably screwed in this situation. (But I don't trade C anyways, and you can avoid this with BATSALIQ.)

    3- If I hit EDGA, is there a difference if I use EDGA or ASUROUT? The paranoid person in me says that the computers will figure out that ASUROUT = aggressive and not give price improvement. But I seem to get price improvement on ASUROUT once in a blue moon?

    4- I only get price improvement once in a blue moon. I assume this is a good thing right? (Because it means that I am not on the clearly wrong side of a trade.)

    4b- Does anybody get price improvement on their trade and have the bid/ask move in their direction? Am I asking too much?

    Thanks in advance!

    (This is on Sterling.)