zboy- I have no doubt that you know the details of order routing. It's not you I'm concerned about, but IB's promotion of BEST as the nirvana of trading protocols. Read tymjr's post above and tell all of us what you would have done in his situation with BEST. My point is that if you use BEST, you lose control of your order. And if you SOES or ARCA and order in a fast moving market, you'r courting disaster. The one thing that could save you and the one thing IB doesn't offer is the ability to SelectNet preference a Market Maker. I would prefer seeing IB spend it's time developing its platform to do this rather than spinning its wheels on BEST
After July 9 when SuperSOES is rolled out SNet will be a thing of the past for NMS stocks. So there's no reason for IB to invest into expanding their SNet routing capabilities. Unless of course SuperSOES is delayed again at the last minute.
jperl, ECN BEST was a result of BESTex orders getting held up on selectnet or Soes. Most of this thread focused on BestEx. As long as market makers can hold onto orders there is a possibility of an order not being honored from somene showing the best price. Hopefully SuperSoes will finally create a more transparant market. Until then, Ecn Best is supposed to resolve some of these issues. How about some feedback on that?
Def, BEST ECN works great. That's your feed back. Pity it has been disabled for QQQ and all listed stocks though. Is there a chance to have it back ? well, at least for the ETF.
I was wondering about that too as I saw there is significant volume on the ISE. My guess is that the ISE is not considered an ECN and thus imagine what you want is to route ETF's anywhere but the AMEX. Is this correct?
Yes, please.. there is enough volume on Island and Instinet for the ETFs. Therefore Best ECN makes sense for them [very interesting after hours too!]. And obviously it is not a technical problem, since I did use it during the stealth release. I hope it can come back for the ETFs. Thanks. vpiNeo
tntneo, ECN Best is not available for any exchange traded product. Although it would be nice to by-pass Amex, it would be a violation of regulatory rules.
Def, It is a pity. But I suspected something like that. It could not be a technical issue. Well, the volume made on Island and Instinet does show other people are disguted by the specialist. There is already enough liquidity to avoid AMEX. Thanks for checking anyway.
Def- ECN BEST was a result of BESTex orders getting held up on selectnet or Soes. Most of this thread focused on BestEx. As long as market makers can hold onto orders there is a possibility of an order not being honored from somene showing the best price. Hopefully SuperSoes will finally create a more transparant market. Until then, Ecn Best is supposed to resolve some of these issues. How about some feedback on that? ECN-BEST is not a substitute for BEST's problems. It simply cuts out the Market Makers from your trading choices. How can removing more than 50% of the market from your view resolve anything. On top of that, it adds problems of its own by hitting ARCA in a fast market-something it shouldn't do? Yes-SuperSoes may resolve some of these issues-but that's moot.
jperl, ECN best is a result of people like yourself asking for it. I assumed it was because of the reasons I mentioned.