IB does not route to regional exchanges

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

  1. nitro

    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?

    nitro
     
  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

    shneed

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

    shneed
     
  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

    nitro

    Hmmm,

    Thanks for all the replies.

    nitro
     
  9. nitro

    nitro

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

    nitro
     
  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.

    Peace,
    :)RS
     
    #10     Sep 27, 2003