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I currently get NYSE OpenBook from two different sources. Once a stock has opened, one of my sources never shows a crossed market in OpenBook - the bid is always less than the ask. This makes sense because any orders that "reach across" are marketable, and should be held/handled by the spec...

Yes, ARCA charges $0.004/share to route to other destinations for listed stocks. In contrast, orders for listed stocks executed on ARCA are free. BTW, sure was nice of ARCA to instigate this listed price war, giving us listed traders a big raise. I paid an average of $0.0005/share in ECN fees...

My purpose wasn't related to manipulating the wash sale rule - just being able to sell short without an uptick.

I remember that the practice of using a second, cross-guaranteed account to put on a "box" position for use in shorting on downticks was outlawed some years ago. Was it the entire practice of boxes, or just using two accounts that shared the same capital? That is, can I legally (i.e...

Personally, I think charging someone a reasonable training fee is a good way to make them take it seriously, and weed out those that would not, or worse, those that would make it hard for others to do so. If the training is not worth the fee, that is a different issue.

Another key disadvantage of SSFs vs. bullets is pre-market/after-hours availability.

Right - ARCA orders from IB are not allowed to route away from ARCA. ARCA (from brokers other than IB) can be used to hit regionals because they participate in ITS (now as PACX, previously via the NASDAQ Intermarket (NASD)). ITS is the ECN-like thing that links the NYSE with the regionals and...

Must be available from Schwab then. myTrack (Penson) doesn't show it as available. It is not on Assent's (www.assent.com) hard-to-borrow list, which ostensibly means that it is available, but I can't verify that until Monday (I'll try to remember). Hopefully, you are thinking about...

In short, I don't think the "deliver in 3 days" rule will have any effect on individual traders - it simply changes how your broker has to handle the trade afterwards. The exception is that, for some brokers, who are not already clean about this, it may reduce the size of their shortable stock...

This is only true if you allow the order to go proactive. Some platforms give you the ability to set this flag (I think it's called PNP), and others (like IB), never allow ARCA to go proactive. I imagine the same thing would happen with pro-active INCA orders that go to NYSE (via ITS).

It was that way for options orders, as required by the exchange rules. I don't know if it has changed. Automation for order handling and quotes is plenty fast for all but the most extreme trading.

Quote from JackHamptom: see the end of this article: http://www.pan.net/taxes/Trades&taxes.htm I am not a tax professional, but I believe this article incorrectly confuses mark-to-market election with filing as a "securities trading business", based on how I read IRS "topic 429"...

Quote from C Robinson: actually the specialist do have control over arca in that they can hold cancellations. as if they didn't have enough advantages!!!! Would you elaborate please? How does a specialist have control over orders on ArcaEx?

So, if I'm reading this correctly, equity futures will trade (in eastern time): Sun: 18:30-24:00 Mon-Thu: 00:00-16:15, 16:30-17:30, 18:00-24:00 Fri: 00:00-16:15 and FX and interest rate futures will trade: Sun: 18:30-24:00 Mon-Thu: 00:00-17:00, 18:00-24:00 Fri: 00:00-17:00...

just21: IB never implemented BRUT for listed stocks probably because there is very little liquidity there, and it doesn't seem to be getting any better. It's also now more expensive to take liquidity from than INCA, ISLD, or ARCA. They also sometimes put out quotes that you can't execute against...

If you right-click on a chart and choose About... (assuming you can do this), what does it say? It's hard to imagine that they wouldn't use the same AIQ chart control that they use in myTrack. If it is the AIQ control, you can set lots of things related to the appearance, like background...

As a general suggestion (and not just for IB), it would be nice if brokers, when preparing statements, would provide detail of the important parameters that were used in calculating a line item, instead of just a lump sum. The information is available - why not present it? Examples: 1...

I noticed this: "with the exception of certain currency futures contracts where physical delivery of the currency will be received*" and the note says: "* AUD, CAD, CHF, EUR, GBP, and HKD contracts will physically settle into cash." If I am long 1 6EU3 (EUR Sep03) into delivery and...

I think IB has a great website, both in appearance and, more importantly, content. Trying to find important things, like commissions, fees, margin rates, product information, etc. on many other broker's web sites is considerably more difficult, and less complete when you do find it. Some of...

ktm: At least until they postpone it again. It was supposed to happen this year :)