What you gain by routing to ARCA instead of NYSE

Discussion in 'Order Execution' started by Option Trader, Feb 25, 2008.

  1. Can anyone sum up what you are "protecting" yourself from by routing to ARCA instead of NYSE?
  2. nassau


    general getting filled vs part fills.

  3. Interesting. What about from the vantage point of who is your counterparty? Also from the vantage point of not being protected from penny market making (where your can almost never be the best bid, because your orders are usually outbid by a penny.)
  4. I use ARCA daily and I almost always post liquidity.

    I get what I believe is good fills and I save a lot by getting those rebates (I use IB)

    Best of trading to you
  5. why would you get better fills on ARCA instead of NYSE.?
  6. Also relevant to what Nassau said, and relevant to Sky's question: Are you getting better fills when buying at the bid, & selling at the ask (otherwise, if you are buying at the ask, would there really be an improvement?)
  7. Don't forget about price improvements by the specialist. They do not happen so often as they used to, but still....
  8. Yeah and when you get it you know you really don't want it lol.
  9. Well, the specialist don't see the whole picture these days, and makes the same mistakes as we do... Sometimes I see price improvements on the sell side for a stock with an aggressive buyer.
  10. Can anyone relate to the issue of "who is your counterparty on ARCA"? Is it not so that if you route to NYSE then you most often get a MM, but if you route to ARCA you most often get another retail trader?
    #10     Feb 26, 2008