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You don't rely on IB's quote (get an alternative data feed). And you have to direct orders (paying twice the commission) when auto's are available but IB won't route there because the flag is wrong. (Mainily happens at the CBOE).

The only recent change IB made (Jan 2003) is that they no longer will display quotes that don't indicate auto executions in SMART. However, as I stated and as you have seen, these flags can be wrong. I illustrated many examples. I also complained a few weeks ago that the flags were often...

don't think so.

not kidding. And yes the flags are often wrong. I'm very surprised at this considering there are times when an auto exists and now they will not post it in their SMART quote (because it is not flagged) and will not route it there as well. Hard to believe that even the most ignorant of IB...

The problem is IB has decided not to broadcast quotes that are not flagged with auto executions in their SMART quote. IMO, not a good move, considering the flags are often incorrect. I've sent something to IB managament but so far it appears that they will not change.

I don't know who Jeff is: Doubt he is IB management send an email to : ibmgmt@interactivebrokers.com before you get too excited.

Exactly. Perhaps it wasn't Island who requested the bust (may have been the customer on the other side of trade) Alan - I sent you a PM re this.

Did you attempt to contact IB Management and explain your situation? If you have not, I suggest you do before getting a lawyer too involved.

They are months away still. The rules have not been approved by the SEC. I would guess the earliest would be march/april.

yes, the market maker can bid .46 and you would not get any marketable trades. And to top it off you would not see the .46 bid via the NBBO. And even if you bid on another Exchange (ISE) the marketable sell order can still be directed to the Box for a PIP and trade at .46 and you would also...

http://www.bostonoptions.com/pdf/BOX_rules_web.pdf only 133 pages!! In particular pages 57 - 62 PIP rules - look at the examples they give on their website http://www.bostonoptions.com/index_launch.php and note that with PIP, outside participants will never know when PIP's...

Yes, you would have to trade as a MM. The PIP is the problem. IMO, it is very unfair to outside liquidity providers. Oh, if you don't know already the BOX will also have obvious error rules similar to the ISE so crossed trades can also be cancelled (and I only say this because I know you...

Perhaps you should read the rules first.

other notable option news: Still waiting for the BOX to post their proposed rules at the SEC (for comments). If you go to their website, you will see the rules but I believe they still have not submitted these rules. http://www.bostonoptions.com/pdf/BOX_rules_web.pdf As I pointed out...

I have some contacts at each Exchange. or via http://www.sec.gov/news/digest.shtml for detailed rule proposals, search each rule via the Federal Registry http://www.access.gpo.gov/su_docs/aces/aces140.html mainly hard work. and I don't recall seeing "text" of the two minute...

I've used them and found them very helpful. I'm not sure if they will be able to help you but it wouldn't hurt to send them an email.

here is the rule: Date: November 22, 2002 Regulatory Circular RG02-103 To: Members and Member Organizations From: Trading Operations Re: RAES for BD Orders in Equity Classes On September 18, 2002, the Board of Directors approved automatic execution of certain types of BD orders...

rockbrain, The CBOE recently approved a rule that would allow electronic access (RAES) to BD's for the top 175 equity options. However, BD orders will not automatically execute against the resting order book. However, customer to customer orders will be executed electronically (ABP)...

Are there any plans for the CBOE to allow BD ordes to trade against the customer order book? (ABP- Automated Book Priority)

http://www.ustax.ca/