In Tradestation, if I route an equities order to Intelligent and specify a duration of CLO (on the close), will my order always receive the PRIMARY EXCHANGE's closing price? I asked Tradestation this, and they said they couldn't guarantee it (they recommended routing to the primary exhange if I want to guarantee the primary exchange's closing price, but the commission for that route is higher than for Intelligent if I use flat fee pricing). My QUESTION for the forum is: has anyone used Tradestation's Intelligent routing for CLO orders, and if so, have you consistently gotten the primary exchange's closing price for both NYSE-listed stocks and NASDAQ-listed stocks? (My recollection is that I tried it once several years ago and did NOT get the primary exchange's closing price, then tried it again a year or two ago and DID get the primary exchange's closing price.) Thanks.
I tried it today with 100 shares and it did NOT go to the primary exchange (NYSE) and it executed at 4:00, not 4:02 when the NYSE closing cross occurred. Happened to be the same price, but that's random. So I guess I'm stuck with direct routing.
four tenths of a cent a share IF one uses their flat fee $5 per trade (new flat rate as of today), no diff if one uses their per-share pricing as I unfortunately seem to need to do because I direct route a lot