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I have accounts in a couple brokerages. I trade stocks just fine, however I miss any good understanding of some fundamentals, and how things work under the hood. I'm confused about stocks being traded in multiple exchanges.

As an example, take FB ticker. Based on my understanding FB is traded at least on those exchanges (please, correct me if I'm wrong in that statement!):

  1. Nasdaq
  2. IEX: https://iextrading.com/trading/eligible-symbols/
  3. EDGX: https://markets.cboe.com/us/equities/market_statistics/symbols_traded/?mkt=edgx
  4. BZX (link), BYX (link), and EDGA (link)

now, when I buy/sell FB in my interactivebrokers account, I can see two options for FB:

  1. FB NASDAQ.NMS
  2. FB MEXI

So, my question is "Can I trade FB specifically in IEX using my account?" Does NASDAQ.NMS mean NASDAQ, or the query to buy FB could be eventually executed by some other exchange, not necessarily NASDAQ

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So, my question is "Can I trade FB specifically in IEX using my account?

Yes.

Does NASDAQ.NMS mean NASDAQ,

Sort of. NMS means National Market System, and the venues such as IEX participate in NMS.

or the query to buy FB could be eventually executed by some other exchange, not necessarily NASDAQ

Based on IB's "SMART Routing" mechanism, by default it could be executed by some other exchange, if IB belives that the price is even better than direct routing / Unlisted Trading Privileges (UTP) Tape C aka NBBO. You can override this and force it to IEX. However, there could be additional fees.

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