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> No, I didn't know that Scottrade nasdaq orders are routed to Knight.
> Thanks. Still, would I rather place a trade with IB, which I just
> paid $17 per side for my last trade of 3000 shares, or would I rather
> pay $7 per side with Scottrade?
Do you think IB's fills are, on average, 0.33 cents better than
Knight's? If so, then Knight's fill is costing you more than
IB's commission.
Knight pays Scottrade for those orders. They have to make it
back, which they do with less-than-optimal fills. If they slip
you just a penny worse than IB's fill, that Scotttrade trade cost
you $7 + $0.01*3000 = $37.
Gary
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