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I only find out the "story" when the bust doesn't make sense. In the first case I went to ARCA directly - in the second case my broker supplied the information. I know what you are saying re "fraud by the couterparty" but I kind of think of it as arbing the ECN's rules - I've always felt...

I would disagree with the 99% figure. However, in most cases I would say that these unfair "busts" are not due to fraud but simply ignorance. Here are a couple of busts that I have had in the last year: One premarket I sold some DNA (>$100) up $2.10 ish on ARCA. There was some news (minor)...

I'm assuming that you are calling the automated equity traders "auto-routers" (like TMBR). If you are then your comment doesn't make much sense as these auto traders base their decisions solely on the bid/ask (sizes) and some other external factors like Index future premiums etc. These are the...

To clarify: Level II data is definitely 3-5 seconds behind for each ECN (not sure about NAS). However, if you use IB's market depth (this gives you the top level of the ECN's) , the market is right up to date.

does anybody actually use IB's Level 2 data? I just subscribed and noticed that it appears to be about five seconds behind.

this was probably an erroneous trade. You bought the puts at $13.60 at 9:58:02 There were $15, $15.20 prints around the same time. If you read the obvious error rule (720) you will see that if you buy .80 lower than the theoretical value (for options priced from $10-$20) than the trade...

I've never heard this one before. I would investigate this thoroughly. If IB doesn't go to bat for you I would contact the ISE directly.

locked: national best bid=national best ask crossed: national best bid>national best ask http://www.iseoptions.com/legal/pdf/rules.pdf see rule 720 for obvious errors

It is a little frustrating that there are some equities in the marketplace that are very difficult to short (lack of inventory). After reading the NASD rules on shorting (see below), it is my opinion that it might be legal to allow short selling on these stocks (when the broker can't borrow...

The next time your broker seems very anal about a particular issue, potentially questioning your integrity, please consider this thread as a reason. Unfortunately, brokers have to set their own rules to the lowest common denominator. This level often reflects the "lowest" level of integrity...

Sorry, next time I won't respond.

Last I checked (about a week ago) IB had 1,848 of the top 2,016 equities available to short (91.6 %). My list of equities includes all equities and ETF's that have corresponding equity options. In my opinion that is pretty good.

Last update: http://www.island.com./prodserv/developers/resources/emailarchive/20031218.asp I'm not sure why IB did this so early as most securities still trade on both Instinet and Island. However, I would expect that most of the merge will take place by the end of the month. Has...

I agree. Although I don't subscribe to IB's Level II (I use another source), I was thinking about adding it. I will also send a suggestion to add the ECN's to their Level II. Sometimes the best way to approach this sort of issue is to send an email to IB management.

at the bottom. :D

I was told about a month ago that "immediate exercises" will be available at IB within the next couple months.

same here. I'm always charged the lower fee no matter how many times I CFO an order. i.e. on Friday after the close I bought 5,000 SPY - cfo'd several times and got filled at several different prices and was charged $27.50.

http://www.optionsclearing.com/market/infomemos/info_memos_form.jsp type in the symbol and use "Contract Adjustment Memos"

IB in the past has screwed up the strike price (adjusting for the 3 for 2 twice instead of once) However, in this case it appears that this was not the issue. The multiplier in this case was 150 not 100. If you sold the option after the split you should have received 150 times the price not...