Brut Dot vs. Inet Dot

L

listedguru

Anyone here use either Brut Dot or Inet Dot to execute listed orders? I see that Inet now has a dot line that goes right to the floor without checking the book first. I believe Brut dot checks it's book first and then routes to the floor? Just wondering what your experience is with either of these routes? These routes are free too arn't they?

-Guru
 
they're free if they check the book first (and don't get filled in the book).

the inet dot line is great... i use it frequently. I used to use the brut one, it was also fine...

cheers!

mnx
 
I hit 80 percent of my entries using inetdot. I pay 20 cents per 1k and it is quick.

I exit my orders by using inetdot to list on the new york book. It is my cheapest and easiest way to get onto the book.

No problems here. Paying the buck for it to hit the BBO is not a problem. If i want the shares I'll pay for them.....I would prefer to have the shares then to miss the action.
 
Some updated DOT routes coming through the pipe...very interesting....

* Effective October 1, 2006, NYSE-listed securities routed to Arca will be charged $0.0028 per share, pending approval from the Securities and Exchange Commission (SEC).
* Beginning on September 18, 2006, NASDAQ will introduce two new INET routing strategies:
o DOTO routes On-Open Orders to the NYSE or Amex and posts unexecuted shares on the INET book.
o DOTD routes directly to the NYSE or Amex without interacting with the INET book.


* DOTO — routes On-Open Orders to the NYSE or Amex and posts unexecuted shares on the INET book. If these unexecuted shares become executable on another market center while on the INET book, the order will route to the other market center. If the order routes to the NYSE or Amex after being on the INET book, it will remain on the NYSE or Amex until being executed or canceled.
* DOTD — routes directly to the NYSE or Amex without interacting with the INET book. The order will remain on the destination market until being executed or canceled.

he pricing schedule for DOTD orders will be:

* $0.004/share that execute on the Amex for ETFs (no monthly cap)
* $0.003/share that execute on the Amex for non-ETFs (no monthly cap)
* $0.0003/share that execute on the NYSE (no monthly cap)

When will the new routing strategies be available?
On Monday, September 18, 2006, NASDAQ will begin beta testing of DOTO. It will be available to all market participants on Monday, September 25th.

DOTD will be effective Monday, September 18, 2006.

Effective October 1, 2006, NYSE-listed securities routed to Arca will be charged $0.0028 per share, pending approval from the Securities and Exchange Commission (SEC).
* Beginning on September 18, 2006, NASDAQ will introduce two new INET routing strategies:
o DOTO routes On-Open Orders to the NYSE or Amex and posts unexecuted shares on the INET book.
o DOTD routes directly to the NYSE or Amex without interacting with the INET book.


* DOTO — routes On-Open Orders to the NYSE or Amex and posts unexecuted shares on the INET book. If these unexecuted shares become executable on another market center while on the INET book, the order will route to the other market center. If the order routes to the NYSE or Amex after being on the INET book, it will remain on the NYSE or Amex until being executed or canceled.
* DOTD — routes directly to the NYSE or Amex without interacting with the INET book. The order will remain on the destination market until being executed or canceled.

he pricing schedule for DOTD orders will be:

* $0.004/share that execute on the Amex for ETFs (no monthly cap)
* $0.003/share that execute on the Amex for non-ETFs (no monthly cap)
* $0.0003/share that execute on the NYSE (no monthly cap)

When will the new routing strategies be available?
On Monday, September 18, 2006, NASDAQ will begin beta testing of DOTO. It will be available to all market participants on Monday, September 25th.

DOTD will be effective Monday, September 18, 2006.

http://www.nasdaqtrader.com/trader/news/2006/headtraderalerts/hta2006-135.stm*
 
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