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roehrigs01
03-07-2006, 04:59 PM
I see when you want to buy/sell a stock, iB has many different ECNs:

Stock SMART USD
Stock ARCA USD
Stock BRUT USD
Stock BTRADE USD
Stock ISLAND USD
Stock SUPERSOES USD
Stock VWAP USD

Anyone have any preferences they use???

Thanks!!!
Bman409
03-08-2006, 01:48 AM
I see when you want to buy/sell a stock, iB has many different ECNs:

Stock SMART USD
Stock ARCA USD
Stock BRUT USD
Stock BTRADE USD
Stock ISLAND USD
Stock SUPERSOES USD
Stock VWAP USD

Anyone have any preferences they use???

Thanks!!!


I use the "SMART" option.

that gives you the best fill price, and the cheapest commission..

The only time I use a "directed" order is if I want something to go to the NYSE specialist, rather than have it fill on one of the ECNs...

This would typically be an "odd lot" order on a high priced stock (like SQM or something), where I'm buying 50 or 75 shares and I don't want it to get filled on ISLAND or something like that.
NATHAN LLOYD
03-08-2006, 03:59 AM
25,000 to day trade
that sucks, or i'd do it for 2k
NATHAN LLOYD
03-08-2006, 04:01 AM
ECN stands for what?
peppy
05-01-2008, 02:07 PM
I believe it stands for electronic code number?
netwrangler
05-01-2008, 02:21 PM
I use 'smart' on Schwab. From what I understand, that uses an algorithm to look for the best deal across the listings.

I could be wrong, but that's what I think.
peter518
05-09-2008, 12:38 PM
An electronic communication network (ECN) is the term used in financial circles for a type of computer system that facilitates trading of financial products outside of stock exchanges (http://en.wikipedia.org/wiki/Stock_exchange). The primary products that are traded on ECNs are stocks (http://en.wikipedia.org/wiki/Stock) and currencies (http://en.wikipedia.org/wiki/Currency). ECNs came into existence in 1998 when the SEC (http://en.wikipedia.org/wiki/United_States_Securities_and_Exchange_Commission) authorized their creation. ECNs increase competition among trading firms by lowering transaction costs, giving clients full access to their order books, and offering order matching outside of traditional exchange hours.


http://en.wikipedia.org/wiki/Electronic_communication_network

ECN stands for what?
wallstreetsedge
05-14-2008, 08:21 PM
use smart to have your trades executed faster otherwise you have to wait for the preferred.. the only thing is normally when you use the smart option with any platform, the fees could vary but you pay for speed sometimes