Tom, You're right, they're only charged one ticket... if you can GET them! With ISLD, your order usually will get hit right away if the timing and price are right. If not, then typically it becomes a dead order. The difference with ARCA is, it goes out and actively preferences your order to the different MM's, cycling through them using an algorithm based upon their frequency of setting on the inside market, etc. Often you will get these amazing fills with a piece from here, a piece from there... which you could never get with an ISLD order. Just a tool for use when needed, ISLD is also a great (key) ECN resource to choose from too, of course.
I don't mind being filled in teenies (1/32), micro-teenies (1/64), or nano-teenies (1/256), as long as you can get the shares when you want em! It's the partial fills which are a real headache. |
