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This is how it works (the old SOES used to work the same way). SuperSOES only executes at the inside market and works its way up/down one price level at a time provided no ECN intercepts it. Putting a more liberal limit on orders instead of limiting to the inside and readjusting if necessary can...

In my eyes the ideal solution to this whole mess would be to split the current crippled REDI and ARCA routes into two separate routes each, with the following behavior: 1. REDI_IOC / ARCA_IOC: This should send an IOC order to the respective ECN at whatever price the user chooses thus...

Inability to use IOC orders is definitely not an issue. In order to fix the bug of BEST_ECN not being able to access liquidity on REDI and ARCA beyond the NBBO they've had to start using IOC. What I just can't comprehend is why they didn't take the easy route of using IOC orders for their BEST...

No, you did not misunderstand that. About two months ago IB decided to cripple the functionality of REDI and ARCA for their customers. Up to this day I have not been able to get a satisfactory answer out of them as to why they did that. All marketable orders sent to REDI or ARCA are...

JB, you should be able to find all the information you're looking for at the following URL http://www.nasdaqtrader.com/trader/hottopics/supersoes_hottopics.stm Dave

Fohat, what you still don't seem to understand is that this is not about what the rules allow or don't allow but about standard industry practice. Virtually all US equity trades are settled by NSCC, a subsidiary of DTC. NSCC nets clearing firms'/brokers' transactions into one position per...

Turok, until about two months ago all the problems and deficiencies I've described above were not present in IB's platform. They were introduced when for some unknown reason IB decided to cripple the functionality of the REDI and ARCA ECNs. So it's not like I'm asking them to add any new...

Turok, all I can say is good luck, but don't get your hopes up that anything will change. After IB deprived us of REDI and ARCA active order routing I've invested a considerable amount of time and energy myself in order to get them to reconsider those changes but so far to no avail. Not even...

Fohat, you clearly don't understand how T+3 settlement works. E.g. if you sell a stock the dollar proceeds of that sale won't be delivered by the counterparty until three days later. The broker is not withholding any cash from the customer's account. If a broker updates an account in...

The problem there is that IB does not make account information available until 6am to 7am EST. The earliest I've ever been able to actually trade on Instinet has been 6am EST. Dave

IMO the three enhancements for TWS that are most pressing are: - Ability to have separate user-configurable WAV sound files for partial executions and completion of the full order - Having TWS properly display fractional cent values (third and fourth decimal place) in ECN quotes as well as...

When it comes to options I doubt you'll be able to find any other retail broker that is able to match them let alone beat them in terms of execution and routing options (direct links to all five US options exchanges) as well as commission rates. I've been a vocal critic in the past of...

Every trade is subject to T+3 settlement irrespective of what type of account is involved. If unlimited daytrading is possible in a cash account only hinges on the broker's ability to conduct "time and tick" accounting so that freeriding can be precluded. Dave

I sometimes answer that question by telling people that I'm a "critical liquidity provider". It's always funny to see people get really confused while pretending to know what that is. Dave

Bill, that's exactly the point I tried to make with my prior post. Given your experiences with AOL I can understand your aversion to NYSE trading. Are you sure you were using a direct SuperDOT connection at the time? I've never seen delays of that magnitude. Most of the time I find that...

There's always some sectors with lots of momentum even during the summer doldrums. E.g. energy has had all the momentum you could want in both directions during July. Especially OSX and XOI names as well as the IPPs (CPN, MIR, DUK etc.) among the utilities.

IB will most definitely not segregate options and stock trading. Lots of strategies depend on being able to hedge with stock and having to do that in separate accounts would create huge problems with margin and trade liquidation.

Sniper_Trader1, why deride listed trading just because you've been unable to make any money at it? There's lots of people making good money trading listed and personally I enjoy trading both listed and Nasdaq. While when trading larger timeframes there's not much of a difference, for very...

Fairness and orderliness are not judged based on specific absolute price increments but based on supply and demand and market conditions at the time (see NYSE rule 104.10). Unlike the Nasdaq where MMs are not bound by any rules the NYSE has share depth guidelines for each stock that specify the...

Actually given the circumstances I don't think the DST specialist violated his obligation of maintaining an orderly market. Orderliness has to be judged with regard to the supply/demand picture at the time. The specialist is not there to play good samaritan. All those one point gaps between...