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lol to clarify. We are Canadian and she has her own money to travel. I just don't want her to get ripped off by the CDN banks when converting to Euros. I can convert for her at a much better rate via my IBKR acct. I'd prefer to teach my kids to save $700 if they can.... VicBee: The rates...

I have a daughter who is going to Europe with her friends. They will need about 20K in Euros on their trip. I don't have a Euro bank account (and would prefer not to set one up). I can easily get the Euros in my trading acct (and would save about 500 Euros using IBKR). I just need to get...

Who do you think has been buying the long bonds for the last 12 years?

very interesting to hear opinions. Thanks for posting this... SS mentions PIP on Box at the 25:30 mark. IMO, one of the worst things that has ever hit the marketplace. This mechanism provides no incentive for liquidity providers to show their best markets and allows the "tech" savvy (HFT's)...

yes - OCC One could breakdown the stats per security with the right data vendor.

It depends on the security but as you can see from the data below - the volume is distributed relatively evenly overall. Keep in mind that some volumes can be overstated for a variety of reasons. for example the PHLX volume is overstated because a large portion (maybe as much as 30%) is BS...

if you send 390 orders per day over the course of one month - then you will be designated as a PRO. Sending 16 x the amount of orders will get you to that designation pretty quickly. And if you want to see "bad fills" - become a Professional You could filter the Exchanges but you have to...

And I don't think there is an algo that sends a 16 lot customer order (one contract to each exchange). Doing this yourself can be very costly with respect to your order count and leave the possibility of getting over filled. Sending many orders like this on your own will increase your chances...

tony: Robert nails it. Read his post. The market structure is designed to screw the retail customer. Maker/taker fees and other rules are designed to take away customer priority as it really exists in "name only". But as an IB customer I will tell you what I generally do: (Professional...

These market share numbers really don't mean anything. For example with respect to the PHLX, most of their volume is BS dividend floor trading. I do agree that maker/taker fees can only create conflicts of interest. Also, important to note that IBKR is one of the only brokers who pass on the...

It isn't your brokers fault. This is the result of the fragmentation in todays marketplace and the rules that favor market makers/hft's etc. Specifically, in order for you to get filled you would need the following: 1) An opposite order to buy at .25. This will likely be another customer...

fyi: There is NO current rule on any Equity Exchange that treats retail order flow as "professional". However there is one in the pipeline at the IEX. Anyone who got the "390 notice" would be traders in the Options market. This rule has existed since 2009.

You think your fills are bad now. Just wait till the Equity Exchanges start counting your orders and then treat you as a Professional customer (over 390 orders per day). There is a rule (IEX) in the pipeline that will do just that. You will NOT participate in price improvement auctions any...

thanks for the article. Unfortunately it is misleading. If you read the rule proposed, the IEX actually wants brokers to start counting equity orders (like the option exchanges) to determine whether you are a retail customer or a "professional customer". They propose the magic 390 number as...

just to clarify: 500 Mbps - for all the option data 150 Mbps - for just the NBBO would likely be good 99% of the time

NxCore (which I have used for years) is a great product because they compress the data. However, you need more bandwidth if you want all the option data (>1.2 million symbols). A minimum of 500 Mbps and you still would likely be behind at times. Because I also use other data vendors - there...

Rules like this one and the "390 rule" were introduced years ago when customer priority actually was worth something. The idea was they didn't want customers acting like market makers (jumping the queue) which was understandable. Today customer priority only exists in theory (with...

It is prohibited at IBKR because it is illegal on some exchanges (not all). Here is the CBOE rule: Rule 8.20. Prohibition Against Customers Functioning as Market-Makers (a) TPH organizations may neither enter nor permit the entry of priority customer orders into the System if (1) the orders...

You can review the CBOE's rules here: https://cdn.cboe.com/resources/regulation/circulars/regulatory/RG16-064.pdf

In the TWS: If you go Account-Audit Trail-Condensed then you will get all your orders (for each day for the last week). You can copy this data to Excel where you can attempt to calculate how many orders you sent. I say - "attempt" because it isn't as easy as you might expect as it is often...