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I placed an odd lot order to sell short a stock. It was a GTC market order that should have triggered immediately, but the exchange took 9 seconds for the order to go through. Meanwhile, it messed up my trigger to cancel another order. Isn't the exchange responsible to execute the order on time?

Can anyway suggest a semi-volatile stock which has a solid price baseline, yet good upside potential? The solid price baseline may be due to a private equity group who came in at a low price or some other cause like that. DRL, IMO, fits this standard (due to a private equity group who...

If I may add that TOS displays the BRLC quotes in tenth & hundredth penny increments. With IB, I don't have this, and I'm wondering if this service is available with IB.

Is it correct to say there are NEVER cancellation fees on IB for stocks?

Can anyone relate to the issue of "who is your counterparty on ARCA"? Is it not so that if you route to NYSE then you most often get a MM, but if you route to ARCA you most often get another retail trader?

1:48:06 pm then at 1:49:49 pm EST.

You're right, they said it's their smart route, and that it got filled on ARCA actually--i.e. the price improvement on ARCA.

Asked them, and they said ATD.

Just bought 100 shares of BRLC on TOS and got price improvement. Did the same on IB & didnt. Did the same again on TOS & did. What am I doing wrong that I'm not getting price improvement on IB? I thought IB was the best regarding price improvement for options, so I thought the same for stocks??

How did you find this out? Were you working on a trading floor or brokerage firm before? Or from particular personal experiences?

I thought you did.

I find this information as important for IB traders, or for that matter traders of any broker to know about their broker, as you must know the rules of the game to be a successful trader. These are my conclusions regarding this thread & the thread of "Identifying when IB is your counterparty"...

Also relevant to what Nassau said, and relevant to Sky's question: Are you getting better fills when buying at the bid, & selling at the ask (otherwise, if you are buying at the ask, would there really be an improvement?)

Interesting. What about from the vantage point of who is your counterparty? Also from the vantage point of not being protected from penny market making (where your can almost never be the best bid, because your orders are usually outbid by a penny.)

Can anyone sum up what you are "protecting" yourself from by routing to ARCA instead of NYSE?

#1 the opposite order: if an IB customer & TH are sitting on the exchange at the ask price, then comes along an IB customer to buy at the ask. #2: I didn't mean, but it would be interesting to know what would happen if customer A's order is being held on the IB server (to sell at the aks)...

I don't know about that, because some of those fills come the moment you send the order.

Come to think of it, I have experienced numerous times in both stocks & options trading where I place a mid-point order, and I felt it was taken out at the speed as if I bought at the ask. So whether it is hidden orders, or triggered orders, these types of orders YES seem to be instantaneous...

What I mean is if both Timberhill & a client of IB are sitting at 10.02, and then another IB client submits a buy order at 10.02, who will be his counterparty, Timberhill? OR the other IB client?

A customer with a hidden order there would certainly get filled at the price he placed the order. The issue we were discussing was MM's, if they are able to have "hidden orders" there that go through at that price only if you, as the counterparty, place your order at that middle price, but if...