IB - Exchange in quote monitor vs. trade destination: Which is the "right" one?

I

iPittyTheFool

Hi,

usally I only trade US stocks, but recently I discovered an intresting ETF, that's obviously not traded in US exchanges:
EQQQ - PowerShares EQQQ Nasdaq-100 UCITS ETF

When I enter the ticker EQQQ in the quote monitor (IB/TWS), I'm offered three choices:
EQQQ LSE
EQQQ BVME.ETF
EQQQ1 EBS

Here I'm already a bit confused. Usally there's just the ticker symbol and no reference to the exchange. Moreover there Yahoo Finance offers a lot more exchanges for this ETF, e.g. XETRA/IBIS: https://finance.yahoo.com/quote/EQQQ.DE?p=EQQQ.DE

The order ticket however offers a different variety of destinations for each of these tickers in the quote monitor. For EQQQ LSE im actually only offered LSE, but for BVME.ETF six different possible exchanges are listed:
BVME
FWB
IBIS
SBF
SWB
TGATE

I would expect the quote monitor and the possible trade destinations to correlate. It should be possible to add a ticker for each possible trade destination. But obviously that's not the case.

Can someone please eplain this to me?

Thanks for clarification.
 
iPittyTheFool said:
Hi,

usally I only trade US stocks, but recently I discovered an intresting ETF, that's obviously not traded in US exchanges:
EQQQ - PowerShares EQQQ Nasdaq-100 UCITS ETF

When I enter the ticker EQQQ in the quote monitor (IB/TWS), I'm offered three choices:
EQQQ LSE
EQQQ BVME.ETF
EQQQ1 EBS

Here I'm already a bit confused. Usally there's just the ticker symbol and no reference to the exchange. Moreover there Yahoo Finance offers a lot more exchanges for this ETF, e.g. XETRA/IBIS: https://finance.yahoo.com/quote/EQQQ.DE?p=EQQQ.DE

The order ticket however offers a different variety of destinations for each of these tickers in the quote monitor. For EQQQ LSE im actually only offered LSE, but for BVME.ETF six different possible exchanges are listed:
BVME
FWB
IBIS
SBF
SWB
TGATE

I would expect the quote monitor and the possible trade destinations to correlate. It should be possible to add a ticker for each possible trade destination. But obviously that's not the case.

Can someone please eplain this to me?

Thanks for clarification.
More...

If you have a US based account in USD, what is the advantage of trading a foreign version? The US markets for QQQ start trading at 4am ET on both NASDAQ and NYSE ARCA. I get it if you are in europe and and want to trade in your currency, during your trading hours. However, the 100 stocks in the index are not active other times.

Bob
 
iPittyTheFool said:
When I enter the ticker EQQQ in the quote monitor (IB/TWS), I'm offered three choices:
EQQQ LSE
EQQQ BVME.ETF
EQQQ1 EBS

Here I'm already a bit confused. Usally there's just the ticker symbol and no reference to the exchange. Moreover there Yahoo Finance offers a lot more exchanges for this ETF, e.g. XETRA/IBIS: https://finance.yahoo.com/quote/EQQQ.DE?p=EQQQ.DE
More...
These versions of EQQQ are not identical: they are in different currencies (GBP, EUR, USD). if you double-click on the ETF's name a window pops up with information about that ETF. Its currency is one of the listed parameters.
I have not traded this ETF myself, but I guess that once you have selected which currency you prefer, and thus which ticker symbol you prefer, you might have a choice at what exchange you want to place your order. I assume (again, not my own experience) that a SMART routing is available.
 
@Robert Morse: I know there are similar ETFs, but EQQQ had a better performance than the others. I've discovered similar "problems" with other stocks, so I just wanted to learn how this works.

@HobbyTrading: Yes, you're right. Thanks for the answer. Now I see things a lot clearer.
 
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