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03-07-2006, 04:59 PM
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#1 |
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valued contributor
 
Join Date: Feb 2006
Location: Oahu, Hawaii
Posts: 294
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Interactive Brokers trade options
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 don't care which way the market is headed, just as long as I am on the money train...  E-Mini Index Futures Trading Blog http://roehrigs01.blogspot.com/[/size] |
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03-08-2006, 01:48 AM
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#2 | |
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valued contributor
july/06 simulation winner
may/06 simulation winner  
Join Date: Feb 2006
Location: Upstate NY
Posts: 794
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Quote:
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. |
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03-08-2006, 03:59 AM
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#3 |
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forum leader
Join Date: Feb 2006
Posts: 1,224
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25,000 to day trade
that sucks, or i'd do it for 2k |
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03-08-2006, 04:01 AM
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#4 |
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forum leader
Join Date: Feb 2006
Posts: 1,224
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ECN stands for what?
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05-01-2008, 02:07 PM
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#5 |
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valued contributor
 Join Date: Apr 2008
Posts: 28
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Re: Interactive Brokers trade options
I believe it stands for electronic code number?
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05-01-2008, 02:21 PM
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#6 |
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forum leader
Join Date: Oct 2007
Location: Thousand Oaks, CA
Posts: 1,494
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Re: Interactive Brokers trade options
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. __________________  "Forecast what or when, but never both!" --anon."The older I get, the better I was." --John McEnroe |
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05-09-2008, 12:38 PM
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#7 | |
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valued contributor
Join Date: May 2008
Posts: 23
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Re: Interactive Brokers trade options
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. The primary products that are traded on ECNs are stocks and currencies. ECNs came into existence in 1998 when the SEC 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/Electro...cation_network Quote:
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05-14-2008, 08:21 PM
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#8 |
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forum leader
weekly challenge winner 2x
Join Date: Dec 2007
Location: NYSE
Posts: 1,632
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Re: Interactive Brokers trade options
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
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