Liquidity Routes & Dark Pools
Pools of liquidity at your fingertip.
Because many of the most sophisticated traders focuses on liquidity and order flow, we provide fast access to the full depth of all major sources of liquidity, including exchanges, ECNs, dark pools, and smart order routing mechanisms.
The following are some of the major sources of liquidity to whom we provide direct access. We regularly add connectivity to new destinations based on trader demand.
Exchanges & ECNs
- ARCA
- BATS BYX and BZX
- Credit Suisse (Crossfinder, Pathfinder and other strategies)
- Direct Edge: EDGA and EDGX
- LavaFlow
- Knight: COVERT, OASIS, FAN
- NASDAQ
- NASDAQ BX
- NASDAQ PSX
- NYSE (including OpenBook)
- NYSE AMEX
- NYSE Floor brokers: Prime Executions (Other brokers available upon request)
- NSX
Dark Pool Routing
- ARCA= - NYSE Arca PnP (Post No Preference/doesn't route out)
- BAMLSMRT - This is Bank of America Merrill Lynch's smart order router. It will first sweep the BAML internal matching engine, then route to the rest of the market.
- BAMLXN - This is Bank of America Merrill Lynch's crossing network route. This will keep the order within BAML and attempt to match internal orders.
- LEVEL - This is LeveL ATS's Resting order type. This will keep the order within LeveL and is not publicly disseminated as part of the national quote streams.
- ARCAMPL - NYSE Arca Mid-point Liquidity (MPL)
- ARCAMPLA - NYSE Arca MPL order, but will only ADD liquidity.
- BATSALIQ - BATS Add Liquidity Only
- BATSONLY - BATS PnP
- EDGXMPM - Direct Edge EDGX mid-point
- ROUC - Direct Edge EDGA ROUC strategy
- ROUZ - Direct Edge EDGA ROUZ strategy
- NSDQSTGY - NASDAQ "STGY" strategy (routes out)
- NSDQTFTY - NASDAQ "TFTY" strategy (thrifty)
- ISE Stock Exchange Midpoint Match - Trades at the midpoint price, between the NBB and the NBO.
