IB does not route to regional exchanges

Discussion in 'Retail Brokers' started by nitro, Sep 26, 2003.

  1. nitro


    I am curious. I just realized (duh) that IB does not route to any of the regional exchanges, e.g., Chicago Stock Exchange, etc.

    Does anyone know of a broker that has the capacity to route to any of the exchanges?

    Has there ever been a reason why you would want to route there, other than the obvious one that perhaps prices might be better there?

  2. why route to an exchange that does 10million shares a day over one that does 1billion.....?
  3. price improvement...I often see the the regionals bidding up/offering down a stock a few pennies ahead of the big board. Just another tool I guess...
  4. they really are supposed to match the better bid or offer....otherwise it results in a trade thru which is illegal (not that it stops anyone)......on the other hand some brokers routinely route to the regionals cause they pay for order flow....then YOU really get ****ed....say the best bid is .20...but ny has a .24 buyer who isnt showing the bid......you would sell it at .24 in ny....but if it goes to the regional u get .20.
  5. fun and games for everyone....never said I would route there...:D
  6. shneed


    I have a small account with Point Direx. I use ARCA to send orders to regionals.

  7. Mid-west ( chx) offers price improvement and had over a 1000 NAz stocks listed on the floor...PDX may be member of Chx.
  8. nitro



    Thanks for all the replies.

  9. nitro


    I am confused by this. How does routing to ARCA route to the regionals? It is just an ECN?

  10. I have routed orders to the PSE just to get out of positions after 4pm. They trade until 4:15. If there were no bids or offers on ECN's this was a way of getting out.

    #10     Sep 27, 2003