IB does not route to regional exchanges

nitro · Sep 26, 2003

I am curious. I just realized (duh) that IB does not route to any of the regional exchanges, e.g., Chicago Stock Exchange, etc.

Does anyone know of a broker that has the capacity to route to any of the exchanges?

Has there ever been a reason why you would want to route there, other than the obvious one that perhaps prices might be better there?

nitro

spyderman · Sep 26, 2003

why route to an exchange that does 10million shares a day over one that does 1billion.....?

indahook · Sep 26, 2003

Quote from spyderman:

why route to an exchange that does 10million shares a day over one that does 1billion.....?

price improvement...I often see the the regionals bidding up/offering down a stock a few pennies ahead of the big board. Just another tool I guess...

spyderman · Sep 26, 2003

they really are supposed to match the better bid or offer....otherwise it results in a trade thru which is illegal (not that it stops anyone)......on the other hand some brokers routinely route to the regionals cause they pay for order flow....then YOU really get ****ed....say the best bid is .20...but ny has a .24 buyer who isnt showing the bid......you would sell it at .24 in ny....but if it goes to the regional u get .20.

indahook · Sep 26, 2003

Quote from spyderman:

they really are supposed to match the better bid or offer....otherwise it results in a trade thru which is illegal (not that it stops anyone)......on the other hand some brokers routinely route to the regionals cause they pay for order flow....then YOU really get ****ed....say the best bid is .20...but ny has a .24 buyer who isnt showing the bid......you would sell it at .24 in ny....but if it goes to the regional u get .20.

fun and games for everyone....never said I would route there...

shneed · Sep 26, 2003

I have a small account with Point Direx. I use ARCA to send orders to regionals.

shneed

TM_Direct · Sep 26, 2003

Mid-west ( chx) offers price improvement and had over a 1000 NAz stocks listed on the floor...PDX may be member of Chx.

nitro · Sep 27, 2003

Hmmm,

Thanks for all the replies.

nitro

nitro · Sep 27, 2003

I am confused by this. How does routing to ARCA route to the regionals? It is just an ECN?

nitro

Quote from shneed:

I have a small account with Point Direx. I use ARCA to send orders to regionals.

shneed

Error 404 · Sep 27, 2003

Quote from nitro:

Has there ever been a reason why you would want to route there, other than the obvious one that perhaps prices might be better there?

nitro

I have routed orders to the PSE just to get out of positions after 4pm. They trade until 4:15. If there were no bids or offers on ECN's this was a way of getting out.

Peace,

RS