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ECN_总汇

平台,所以有报价单,即ECN BOOK)

NSB,这是个

ADFN

CBOE

CINN

LRP TW will now support INET RASH STGY orders. The ord

https://www.doczj.com/doc/4d12182766.html,/trader/tradingservices/productse

TW has implemented hot keys to switch the default share size incremen “Ctrl” and “/” on the number pad will set the default share increment to “Ctrl” and “*”on the number pad will set the default share increment to “Ctrl” and “-“on the number pad will set the default share increment to Sungard

Addicion Chicago Cinc IS NOT A MMID,

SUN NSX

PT keys

have been

added to

the

keyboard

options in

TW the

orders

available

for SUN

NSX PT are

Bid/Offer/S

hort Offer,

Buy/Sell/Sh

ort Sell and

Market

Buy/Sell/Sh

ort Sell.

The fees for

SUN NSX

PT are:

SUN NSX

Add Remove

NYSE-0.00220.0034

NASDAQ-0.00220.0034

AMEX-0.00260.0034 Subdollar hares x price) + 0.00043 x shares x price) + 0.0004

This new release of Traderware includes a new Dark Book Router, OES Marketplac e for NYSE, NASDAQ and AMEX listed symbols. The order types available are the following OES Dark bid/offer/ short offer; OES Dark Limit

buy/sell/ short sell and OES Dark

This Dark book router goes to13 different dark pools and11 others will be added in the near future.

The Fee for

the use of

OES

Marketplac

e is0.0015

per share

apart from

what the

venue is

charging.

Sungard

SUN NSX PT keys have been added to the keyboard options i The fees for SUN NSX PT are:

SUN NSX

Add Remove

NYSE-0.00220.0034

NASDAQ-0.00220.0034

AMEX-0.00260.0034

(0.003 x shares x pr

Subdollar(0.001 x shares x

This new release of Traderware includes a new

This Dark book router goes to 13 different dark pools and The Fee for the use of OES Marketplace is 0.0015 per shar

BATS

New order types have also been added to BATS. They are BA The Dark Liquidity Providers available through BATS are G Pricing for BATS Dark listed below

Trade Size Rebate/Share Fee/Share

1-500 0.0020.0025

501-5,000 0.0020.0024

5,001-10,000 0.00160.002

10,001-25,000 0.0010.0018

25,001+ 0.00050.0015

Morgan Stanley

We have added Morgan Stanley to this release which adds 3 Night Vision [Dark router]

SORT DMA [a smart router for displayed and dark liquidity SORT DMA PP [SORT DMA for premarket and post market]

All of these will be available on NYSE, NASDAQ and AMEX s What Night vision does is fragment the order t

Instinet

You will be able to find two different order types with

Nighthawk is a stealth liquidity aggregation algorithm that simultaneou sly accesses most major pools of dark liquidity, including Liquidnet

H20,NYFIX Millennium, Pipeline and Instinet ’s various sources of upstairs liquidity. There are several execution styles available There are also available different Limit Types such as Last,AVG, VWAP, REL,STR, MKT and QUOTE.

Instinet Dark is a dark pool designed to allow institutions to trade confidentiall y with natural counterparti es.There’s no public quote,so the traders can exhaust liquidity on either side of the spread without moving the market. The fee for using Instinet is of 0.003per share.

This new release of Traderware includes a new ECN Bank of America (BOFA). You will also find3 fixes in TW.

BOFA

It adds12 new order types.

Limit

Bid/Offer/S hort Offer and

Buy/Sell/Sh ort Sell Market

Bid/Offer/S hort Offer and

Buy/Sell/Sh ort Sell

On Open Bid/Offer/S hort Offer On Close Bid/Offer/S hort Offer On Open: with the On Open you can specify the amount of the order you want to trade at the open.

On Close: with the On Close you can specify the amount of the order you want to trade at the close.

Value

>1Number of shares to trade

0

0Do not trade at Open/Close

None Defaulted automatically

There are2 different routing options DMA and CUST. Direct Market Access: Routes to all visible and dark pools. When receiving an order for the first time in the stock that day,it will send the whole order to NASDAQ.If the router has seen activity in that name previously, it will split the order into child orders based on a

Custom: Limited to dark-only venues. When receiving an order,it will initially split it evenly between the dark-only venues. Then as we get fills,it will re-allocate more shares to the dark venue(s) providing the most fills. Currently there are no

It also provides3 different Execution Modes Neutral, Passive and Aggressive.

The

Exchanges

that can be routed to

with DMA

and CUST

are listed below

DMA

AMEX

ARCA

AUTO

BATS

BIDS

BLOK

CHX

EBXL

EDGA

EDGX

INET

ITGI

LQNT

NYFX

NYSE

PULX

SHAW

NITE

CUST

Dark Pool MPID BIDS BIDS LeveL ATS EBXL ITG Posit ITGI NYFX

Millenium NYFX Pulse PULX ATD AUTO LiquidNet LQNT DE Shaw SHAW

Pricing

The fee for using Bank of America will be of $0.0025.

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