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Don't know if this applies to all ECN's but for INET at least, hidden orders lose priority to displayed orders, so if you enter a hidden order, and someone enters a displayed order at the same price right after you, he will get filled first at that price not you, even though you entered your...

Yes, its an extra 0.001 on top of the 0.003, so 0.004... This may be old news for some, but the SEC has recently cut the SEC fees in half: http://www.sec.gov/news/press/2006/2006-64.htm Everyone should send the SEC a thank you note...

If I'm generating $5000 per month for you, why would you want to steal my $5000 deposit and endanger that very lucrative (for you) relationship?

EricP: excellent post, thank you!

Oops, forgot to mention i was referring to NASDAQ stocks

A number of prop firms are accused of not paying their traders on these boards, and I am wondering...a prop firm will have put millions up to get the buying power for its traders, and those traders are generating commissions for the firm. Assume I put up a typical deposit of $5000 and I am...

wow, you're the only person i know of that uses EDGX that heavily...for your style of trading, im assuming that its not important for you to get your buy orders filled on the bid, because if thats the case, then i dont see why you would go with EDGX..it's true the rebate is higher, but from what...

Interesting, thanks for the responses, i think EDGX is a great ECN as far as pricing, but it seems when i route to EDGX and im joining INET or ARCA on the bid , INET/ARCA gets the shares first most of the time. Has that been your experience too if you're using it that is?

Here's an interesting article discussing how market share is shifting and how the smaller ECNs like EDGX and BATS are trying to gain market share http://www.tradersmagazine.com/column.cfm?id=280&year=2006&src=home

Note that NASDAQ charges 0.003 to route out, while ARCA charges 0.004. Also note that EDGX charges 0.0025 to route out...i'm still trying to figure out how they're able to do that: http://www.elitetrader.com/vb/showthread.php?s=&threadid=82276 Also note that ARCA charges 0.004 for odd lot...

With so many changes happening in the ECN world, this thread can be a central place where we post any ECN news, fee updates, tips, comments, articles, perspectives, anything you think might be useful to other ECN traders... I'll start by posting the links to fee schedules of NASDAQ, ARCA and...

If INET and ARCA charge 0.003 to remove liquidity from them, how is EDGX able to charge only 0.0025 to route out to these other ECN's? Is the EDGX ECN effectively losing 0.0005 per share every time they route out to another ECN? I'm assuming that when ECN A removes liquidity from ECN B, then ECN...

The fact that you can't post to EDGX for NASDAQ stocks is a restriction at your firm isn't it? because from what i understood, both are available for NASDAQ stocks. For NASDAQ stocks, is it better to post on EDGX or EDGA?

Yes I've noticed they have great rebates, but am wondering about the probability of getting filled when bidding or offering...hoping to get some feedback from people who do this regularly on NASDAQ stocks through EDGX...the rebate advanatage is great, but if you're not gonna get filled, then...

It's all a big blur for me, but what I do remember well is that the exact moment of reversal was an announcement by President Clinton in mid March 2000 that hit the biotechs really hard: "In March 2000, President Clinton announced that the genome sequence could not be patented, and should be...

Anyone routing limit orders to EDGX frequently here? How often do you get traded through if at all? What have been your experiences?

pretty much take anyone who has 10K to throw down...just "show them the money"

Appears NYSE is having problems

That's interesting...do you mind providing a link or telling how you found out that visible orders on INET jump ahead of hidden orders? I wonder if this is changing with the integration of INET into NASDAQ..

I would consider it but only in extreme cases. It's like saying "I'm 100% sure that this system will absolutely not make any money in this environment so I'm switching it off completely and I'm 100% sure this other system will make lots of money in this environment so i'm maximizing my exposure...