Would you mind keeping a "time record" of ARCA versus Island from when you placed the order to when you got filled? Remember that Archipelago sits on your order and then hopes for a match, may trade it for its account, or eventually move it if neither the first nor second happens. Excuse me, technically I guess that trading is for Putnam's wife's account, Sharon, or maybe his kids or distant relatives, etc. The recent New York Times story touched on how he skates rules regarding proprietary trading with options and parks those trades in his wifes account.
nytimes.com
Anyway, if ARCA or Putnam do not take you trade, it will eventually be moved to another ECN. The idea that I have discussed since November, is why not deal with the top volume ECN right off the bat. Island does over 12 times the volume of Archipelago. What has been brought to my attention, is that Terra Nova, who routes the orders for its branch offices like MB Trading, may not be consistently sending them to Island in a timely fashion. Why, because obviously it is not in their best interest to have a competing ECN doing volume that Archipelago could do. I have a number of individuals tracking this, and I would appreciate your feedback and other MB Trading customers on it.
Thanks. |
