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Fair enough. But I'd counter that as it is discretionary, it's discretionary how the discretion is applied. The discretion now is, "we don't even want to bother investigating, etc., if you're not willing to use the security device." :-)

But that's true pre-device. So if you opt out, it is status quo ante.

I think what I read is that IB will be more accomodating if the security device is in place, but it is still discretionary. So I don't see the cause of the grievance -- if you think it's nonsense... and correctly observe that the minimal requirement in the agreement is no make-whole...

I think the comment about limits is true 99% of the time! The other important point is -- brokerage in-house FX ECNs have their limits in terms of access to liquidity. I'm still hoping for someone to connect to EBS (of course, this would increase costs) as that's the biggest pool of...

This risk was disclosed as potentially "material" in the S1 materials.... always perplexed me bec I recall 125k is the maximum fine the NFA is allowed to levy in this type of action (or maybe it was 250k, but it's not more). I guess the size of the restitution was not easily boundable.

Anyone out there traded options on the Arca platform? It's a substantially different model.... price/time priority (vs. customer priority over MM) no cxl/modify fees add liqudity rebates/take liquidity fees per std ECN model Also which retail brokers offer it today (or soon)?

Maybe that's why I haven't seen it recently as I'm now on 873.2....

http://mediaserver.thinkorswim.com/forex/webtrader.html FX is very profitable I guess -- no exchange fees, etc.

I've seen this problem intermittently but I think I've seen it before 872.3. Seems to be correlated with PC being sluggish. Never figured it out. Never bothered as it's easy enough to click again and hoping that expected PC upgrade (shortly) will remove this glitch.

Say fast market, you want to buy a decent block, national best ask is at 10 but you're afraid of the market moving way up on you. Say someone is willing to sell a big block at 10.05 and you're fine with that bec you think the market will be at 10.25 in a blink. Under NMS trade through...

In AM, if you go into Trading Permissions, it will say.... If you just got the email today, it probably won't go into effect until tonight. Once it's in effect, in TWS, go to Vuew > Account and RegTMargin/RegTEquity/SMA should be blank. Hopefully, your Initial Margin will also be lower than...

I would be curious to know your outcome. I've obtained similar items for various purposes over the years but have always gone to a more fuller service firm for them. (Though they always write everything based on a standardized template... no one I've dealt with uses the "you write it, we...

My fear is the opposite bec in fast markets, getting a fill, even at a slightly inferior to inside price, is more important to avoid the market moving away from you. To achieve that, go dark and avoid NMS no trade through requirements.

It's interesting -- especially the bit about programs probing with small trades... bec I know I've had orders posted way outside the market hit with tiny fills. Not sure if those are algos on the other side or not. (Though I've had this happen w/small odd lot trades and I believe most...

Contacted CS and confirmed that there's a problem with Knight today so hopefully it will be fixed soon....

I noticed today that OTCBB orders SMART routed go to ArcaEdge and not NITE today. Anyone else notice this? SOmething wrong with the Knight connection? I like ArcaEdge sometimes but most times but have found Knight to be better most of the time for OTCBB orders. And actually I see under...

I'm not an API user, but if you are, it's easy to test.. if you do it outside RTH when quotes on many issues are wide, you won't take on much capital risk.

This is clearly not true (thankfully -- it would be disastrous if so) with orders sent via TWS. You can see the inside quotes changing at IB, and through independent quote provider if you want to verify, if you post a limit that is the new inside.

One thing to note about FXCM -- I believe there's actually FXCM retail and FXCM Pro. FXCM Pro is an interesting offering because FXCM exposes the retail book integrated with the Currenex book to FXCM Pro customers. So if you really feel that there's a hidden dealing desk behind FXCM...

EBS, started in the early 90s by a partnership of banks perceiving a threat by Reuters to dominate the market, is clearly the biggest interbank ECN. FXMarketSpace's primary pitch seems to be central clearing, but as noted, STP is more important to the banks than central clearing. EBS was...