Depends on the routing instructions in the order, but generally speaking if BATS matches the best price then BATS will match as much as it can against the liqui

Depends on the routing instructions in the order, but generally speaking if BATS matches the best price then BATS will match as much as it can against the liquidity that is available at BATS and route the remainder. See page 2 of this PDF for BATS: https://www.batstrading.com/resources/features/bats_exchange_definitions.pdf https://www.batstrading.com/resources/features/bats_exchange...