Collecting Rebates and Market Orders
Download newest Cy Group Layouts here. Layouts have customized settings designed for your maximum advantage.
To collect rebates and using route out feature:
Use BATS for all remove liquidity orders. (market) (charges $2.60 per 1000 shares traded)
Use ISEQ for all add liquidity orders. (limit) (pays you $3.20 per thousand shares traded)
In order for this to work you must setup the "ROUTE OUT" section of the TRADING SETTINGS correctly. Please look at the image above and copy it.
BATS is very advanced and is the cheapest route that allows you to route out. BATS will search all other ECNS includings the specialist to get you the best price for only a .0026 flat fee. All other ECNS charges you a routing out fee.
ISEQ is great for adding liquidity. ISEQ pays .0032 rebate for all limit orders sent to them.
If you are a mouse trader, just set your ROUTE destination to BATS when you want to buy the stock instantly. (change the price to the offer or higher, BATS will get you the best price. For example when buying a stock market just set Route to Bats and change the price to like 10 cents higher than the offer so you will get filled.) For ISEQ this is for all your limit orders. Just set the Route destination to ISEQ. Change the number of shares/price and press BUY or SELL.
If you are a hotkey trader please use the ISEQ hotkeys to send limit orders and BATS hotkeys to buy instantly. Please refer to the hotkeys page for more information.