Questions about the ecns

Discussion in 'Order Execution' started by BlueOcean, Jan 11, 2010.

  1. Just wondering if someone could provide me a list of ecns that you are free to take liquidity and that have access to liquidity between the spread

  2. so u pay when you add liquidity on edga? and you get paid for removing??

    seems like is a good way to filled on the super thick stocks. pay 20 cents per 1000 to gain the spread then flip for a 1 cent winner.

    And on the flip side whoever hits your quotes pays only 20 cents per 1000 instead of $2.90 for removing on edgx for example.

    Another strategy would be to swipe edga if the level is about to break then add liquidity at the same price (edgx). Increase the size, rinse and repeat.

    No wonder C does like 500 million shares a day, is it too late to jump on the bandwagon?

    Wonder how long that will last.
  3. I like the way you thinkTokyo but swiping EDGA when the level is about to break doesnt work cause EDGA and NQBX is never there.
    In spring 2007 the NITE route was free, the difference from EDGA is that NITE is a market maker it hits any ECN.
    I used to trade only 3 stocks back in 2007 CMGI SUNW SIRI,using the same strategy you referred to Tokyo.Hitting 10k on NITE before the level broke and collecting EDGX credit(.26 cents at the time) I was doing over 1 million shares a day and collecting over 1k in one sided EDGX rebates non stop till Nite shut it down.
  4. Im pretty sure there is an algo that can monitor edga/nqbx and can cross market for example 5000 shares when the total amount showing is some arbitrary number like 100,000. Then turn around and add liq for the rebate. You also get paid to remove those 5000 shares (20 cents per thousand). Not much but it all adds to the bottom line.

    Edge is not gone its just been automated.

    Its hard to credit trade unless you are willing to take some heat. But you need alpha to generate more executions and to be able to capture a positive spread at the end of the day.