I believe I'm missing potential trades due to queue positioning. Do you guys think it’s better to just always route to BYX because most smart routers choose the exchange with the highest rebate first if price is equal. Note: I’m on fixed tiered commission so the rebate fee doesn’t matter to me. Thanks.
Small caps. Recent example was Nacco Industries or NC. Correct me if I'm wrong but I think routers route to highest rebate exchange first.
Curious to read more about this as well, one gets paid to remove liquidity on BYX, is that right ? At first sight it makes sense BYX limit orders get lifted faster https://www.interactivebrokers.com/en/index.php?f=1506&nhf=T
That's right. Liquidity takers get paid $0.0015/share. Seems like BYX is always first in line in smart routers' algos. I just recently noticed this after missing so many trades to BYX.