I've been reading some research by the ISE, of course, saying they beat the other exchanges 90% of the time across all options that they make markets for. In your humble or not so humble (metooxx )opinions, do you agree that the ISE is generally the best exchange to send orders to? Would you, direct your orders there (or a different exchange) by default instead of relying on Smart routing? (It seems to me that some exchanges would excel in some products but not in others, but the ISE says no, they excel in everything they MM for--self serving?)
ISE is wonderful. ISE rules. All business goes to ISE. Other options exchanges and market makers s8cking go out of business.
second. fortunately, SMART will often auto-execute via ISE if IB wants the other side of the trade, thus avoiding the pikers on the floor.
ISE Largest US Equity Options Exchange in February http://www.iseoptions.com/about/pre...ity_Options_Exchange_in_February$20030303.pdf
I wouldn't direct them there by default because there are too many factors to consider on each individual order, but more often than not, my order would end up there. If you want fair treatment, it is your best bet. Using smart routing is probably rather risky as the AMEX, PHLX and PSE do what is best for them with little regard to the "rules" or "policies".
I have to say that IMO ISE is far superior to the others. This morning I entered an order for QQQ apr 25C> smart routed it to PHLX (shudder). My order was away from the market by a dime. It sat for about five minutes and was executed..............by the ISE. Must be a linkage situation and that's fine with me.