Would someone who understands exactly whats going on explain the new Nasdaq quotation system,.\\ On IB Im getting the same exact quotes on BRUT ISLD and SOES.
BRUT, ISLD and SOES have all been merged into a single platform http://www.nasdaqtrader.com/trader/tradingservices/integration.stm
nasdaq was having alot of quote issues this morning with the single book. Seems to be fixed now. Basically there are two venues for nasdaq stocks now: nasdaq and arca.
It doesn't really matter. ISLD, BRUT, SUPERSOES on IB are now identical and you can post/take size on any of them. I suspect they will be removing the redundant routes in the next few weeks.
Do we have to pay any new fees to view the new single book for nasdaq? I think arca is charging $10/mo for access to their quotes now. What about the new singlebook product? Also what routes are you nasdaq guys using now? INET, BRUT, ARCA? -Guru
i used to place orders on arca, but now i will place on nasdaq, coz from what i understood, nasdaq will now dominate with an average of 75% of volume of nasdaq stocks, so no point in placing outside of nasdaq anymore
There may be less size displayed today and maybe in the next few days because of issues some firms are having with the integration, as today all NASDAQ stocks are supposed to be migrated to the new platform. This should not be the case once the dust settles.