Best_ECN Question...Def

Discussion in 'Retail Brokers' started by El Cazador, Jun 5, 2001.

  1. Def, why do I see such a spread in this? The prints I'm watching are only a couple cents apart but the B/A on Best_ECN may be off by 12 to 14 cents? Any idea what is going on? Thanks
  2. It makes me a little leary.....
  3. def

    def Sponsor

    it would certainly help if you gave an example of a stock and the time. Make sure you have the most upto date version and if you still do not see proper quotes it would help if you sent the details to the helpdesk.
  4. Thanks, I'll do that in the AM if it seems to persist. The stock was PRD as it came off that double bottom at about 8:00 AM PST. I deleted the entry for Best_ECN and made a new ticker for PRD just using the drop down BEST selection. The spread narrowed down to what I was seeing on the prints. The Rev I'm using was upgraded on Monday. Thanks
  5. El Cazador,

    The BEST_ECN only shows the best bid and offer from ECNs, and that's all (no money makers or exchanges like NYSE). PRN is a NYSE issue, and not widely traded on ECNs, so you won't see good prices there due to lack of liquidity. PRN also has relatively low volume in general so yet another reason for the wide spread and difference.

    Check out an active Nasdaq stock like CSCO tomorrow and you'll see that BEST_ECN is usually right on or within 1 to 2 cents of BEST.

  6. def

    def Sponsor

    thanks for pointing that out. For NYSE issues you should use BestEx as there is little liquidity via the ECN's for NYSE stocks.

    I'm probably stating something that you already know but NYSE symbols will have 3 letters.
  7. tntneo

    tntneo Moderator

    In the meantime we all received I think, a mail from IB reminding that Best ECN is not for listed [NYSE] stocks.
    it is a pity it is not available for QQQ anymore. well, I guess anyway, Island is the best route [not always best price though].
  8. m_c_a98


    What ECN does a non-marketable limit order reside on when using BEST_ECN execution? Island, Instinet, RDBK?
  9. fleance



    June 06, 2001

    Dear IB Customer,

    IB now offers you three ways to execute your
    stock orders. Depending on your preference,
    you may route your stock order through one
    of the following methods:

    Best Execution--Want to compare competing
    market centers? Choose our standard Best
    Execution option that scans exchanges
    and ECNs on the IB system, and routes your
    order to the best market.

    ECN Best--Designed for customers who prefer
    the speed and certainty of ECN executions.
    Our system will bypass traditional exchanges
    and market makers and route your order to
    the ECN on the IB network that is currently
    posting the best price.

    Choose Your Market--For even more control,
    simply route your stock order directly to
    the exchange or ECN of your choice.

    Also please note the following important

    --If you select ECN Best or route stock
    orders directly to a particular ECN, better
    prices may be posted by other market centers,
    and you may be foregoing the opportunity to
    have your orders executed at a better price

    --ECN Best applies to the over the counter
    market, not the listed market.

    --BRUT will reject orders that cross
    the BBO (best bid or offer).

    If you have any questions regarding routing
    choices for stock executions please email
    our Customer Service Department at

    Best Regards,

    Interactive Brokers LLC
  10. tradeRX


    My "BEST ECN" shows only the bid, no ask. WHY???
    #10     Jun 6, 2001