How many ecns?

Toonces · Mar 9, 2007

http://www.redskysecurities.com/files/BATS_Redsky_Release_020607_FINAL.doc

I was just at the website for Redsky Securities, and they have a notice about offering access to BATS, which I guess is another ecn. I've never even heard of this, I don't see BATS in my current quote systems, and they're saying it accounted for 13% of Nasdaq volume over a certain amount of time. I thought we were down to just INET, ARCA and BTRD, but now there's EDGX and BATS?

thegazelle · Mar 10, 2007

http://www.batstrading.com/

krazyanyway · Mar 11, 2007

Quote from Toonces:

http://www.redskysecurities.com/files/BATS_Redsky_Release_020607_FINAL.doc

I was just at the website for Redsky Securities, and they have a notice about offering access to BATS, which I guess is another ecn. I've never even heard of this, I don't see BATS in my current quote systems, and they're saying it accounted for 13% of Nasdaq volume over a certain amount of time. I thought we were down to just INET, ARCA and BTRD, but now there's EDGX and BATS?

BATS has become increasingly important on the Naz indeed.
It appears as CINN on level 2 quotes.

EDGX was much hotter when crossing the market was allowed, as they offered the highest liquidity rebates. I guess they are now mostly used for their routing ability, which is rather cheap at 0.0026.

Toonces · Mar 11, 2007

So who offers BATS, besides Redsky? I don't see the option to subscribe through IB or TradeStation. I'd hate to miss out on 13% of the market.

jimrockford · Mar 11, 2007

Quote from Toonces:

So who offers BATS, besides Redsky? I don't see the option to subscribe through IB or TradeStation. I'd hate to miss out on 13% of the market.

IB now routes to BATS and displays BATS quotes. No subscription is required. I just had my first trade executed on BATS the other day. It was routed to BATS by the smart router.

traderpro · Mar 11, 2007

Bats
Btrd
Arca
Nsdq
Edgx
Edga
Etrd
Trac

Ecns that are available

traderpro · Mar 11, 2007

Etrd= Etrade

Some list as market maker i put it in the ecn category

For a level II you need all of them

Toonces · Mar 11, 2007

Quote from jimrockford:

IB now routes to BATS and displays BATS quotes. No subscription is required. I just had my first trade executed on BATS the other day. It was routed to BATS by the smart router.

Hmm...I entered a symbol in a quote line in TWS and chose 'BATS' and I got a message that I need to subscribe to it. But when you go to IBs 'market data subscriptions', there is no option to subscribe to that ecn. i do remember not having EDGX a while back at IB, and eventually it just showed up.

http://www.interactivebrokers.com/en/trading/products.php?pdt=ST

It looks like BATS is only available for certain stocks. This shows 9,580 stocks available for INET, and only about 3,500 for BATS, BTRADE and DirectEdge.

traderpro · Mar 11, 2007

Any ecn you don't see you need to subscribe to it. Actually the firm you are with has to subscribe to it. In october 2006 i saw prints in the time and sales that i couldn't see the order and cross reference with another firms software and i was missing the edgx and edga ecn's.

Toonces · Mar 11, 2007

Quote from traderpro:

Any ecn you don't see you need to subscribe to it. Actually the firm you are with has to subscribe to it. In october 2006 i saw prints in the time and sales that i couldn't see the order and cross reference with another firms software and i was missing the edgx and edga ecn's.

Do you trade with IB by an chance?