Skip to main content
Skip to main navigation
Call TradeStation 800.808.9336
The proprietary TradeStation Network is designed to ensure reliable, lightning-fast, best execution for individual and institutional clients alike.
The monthly statistics on speed represent the share-weighted average time between order receipt (also called arrival time) and execution time for all shares filled (not just for the first fill ).
The monthly statistics on price improvement per share reflect the share-weighted average amount of price improvement received, in cents) per share price improved. Price Improvement occurs when your order, or a portion of your order, is executed at a price, or prices, superior to the prevailing National Best Bid or Offer (NBBO). For buys, filled at a price lower than the Best Ask, and for sells, filled at a price higher than the Best Bid.
The monthly statistics on net price improvement per share reflect the share-weighted average amount of price improvement received, in cents) per share filled. Price Improvement occurs when your order, or a portion of your order, is executed at a price, or prices, superior to the prevailing National Best Bid or Offer (NBBO). For buys, filled at a price lower than the Best Ask, and for sells, filled at a price higher than the Best Bid.
The monthly statistics on Effective/Quoted Ratio reflect the ratio between the average effective spread and the average quoted spread. The Effective Spread measures the share-weighted average of double the distance from the midpoint of the market at the time when your order is entered to the execution price you receive. The quoted spread represents the share-weighted average spread of the prevailing National Best Bid or Offer (NBBO) for every share filled. The ratio basically represents the average of the percent of the spread that was effectively experienced on the fills versus the National Best Bid or Offer (NBBO). For example, an Effective/Quoted Ratio of 75% would represent that the fill prices received were consistent with fills expected for a spread of only 75% of the width of the actual National Best Bid or Offer (NBBO).
Notes: Statistics provided by Transaction Auditing Group (TAG). TAG is an independent, 3rd party vendor, and is not affiliated with TradeStation Securities, Inc. Statistics last updated August 2013 and are based on customer market orders for Nasdaq listed stocks for 100-499 shares for respective stated time periods. Industry statistics are compiled and derived by TAG from publically available SEC Rule 605 disclosure data. TradeStation execution quality and industry performance statistics are based upon TAG’s provided Rule 605 comparison tool. The data does not include pre-market or after-hours orders or orders received during locked or crossed market. Individual destination results deemed to be unusual may be excluded from industry averages. Further details provided upon request.
Take your trading to the next level –
Open an Account
Top-ranked† platform for traders at every level.
Know where the market is before anyone else
New and unique insights on the markets and trading
Find pre-built applications to help you find trading ideas
† Based on Technical Analysis of Stocks & Commodities magazine Readers' Choice Awards (2003-2011); in each award category, results are based on the company that receives the highest number of votes cast by the magazine's subscribers over a fixed time period that ends shortly before announcements of the awards.
Call a TradeStation Specialist 800.808.9336
No offer or solicitation to buy or sell securities, securities derivative, futures products or off-exchange foreign currency (forex) transactions of any kind, or any type of trading or investment advice, recommendation or strategy, is made, given or in any manner endorsed by any TradeStation affiliate and the information made available on this Website is not an offer or solicitation of any kind in any jurisdiction where any TradeStation affiliate is not authorized to do business, including but not limited to Japan.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options futures or forex); therefore, you should not invest or risk money that you cannot afford to lose. Options trading is not suitable for all investors. Your account application to trade options will be considered and approved or disapproved based on all relevant factors, including your trading experience. Please click here to view the document titled Characteristics and Risks of Standardized Options. Before trading any asset class, customers must read the relevant risk disclosure statements on our Other Information page. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
TradeStation Group, Inc. Affiliates: All proprietary technology in TradeStation is owned by TradeStation Technologies, Inc. Equities, equities options, and commodity futures products and services are offered by TradeStation Securities, Inc. (Member NYSE, FINRA, NFA and SIPC). TradeStation Securities, Inc.’s SIPC coverage is available only for equities and equities options accounts. Forex products and services are offered by the TradeStation Forex divisions of IBFX, Inc. (Member NFA) and IBFX Australia Pty Ltd, ABN 84 142 210 179, holder of AFSL #363972.
Copyright © 2001-2013 TradeStation Group, Inc.