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By the way, IB as of yesterday unrolled the odd-lot execution change. You can submit odd lot orders now. So I'm not sure this poll has any relevance now.

Does your explanation make any sense? $1 minimum commission at IB means a 5 or 10 share order costs $1 regardless. IB, precentagewise, should make more on an odd lot order than other types of orders (assuming they don't route these type of orders to a place like ARCA which overcharges for...

I have seen a few prints from ARCA on IB's last prices this morning. So I was wrong. However, I have noticed in the past that ARCA prints don't always make it to IB's last price feed.

I have never heard of abuse of an ECN via odd-lots. I just hear NYSE specialists complaining about abuse because there are special rules associated with NYSE odd-lot orders. If the NYSE specialists are complaining about odd-lots for the *entire* industry, including on ECNs, then that is an...

How can I, as a retail trader, make my voice heard to the "regulators"? I would gladly bombard them with my thoughts.

It is for all types of initiating orders. So assuming you have >= 0 shares of a stock, you wouldn't be able to buy 1-99 shares of that stock with an order.

Thanks for the heads up on the switch... not. It has long been the case that IB has prohibited opening odd lots on NYSE stocks (to prohibit odd lot abuse) and through ARCA (because of the extra charges). I don't understand why INET became a target - what does it have to do with the NYSE...

But IB has prohibited initiation of odd lot positions on ARCA for some time now. I don't have a problem with this given the way ARCA charges for odd lot orders. The question is, why is it suddenly not possible to initiate an odd lot position on INET? I just checked and I can submit an odd...

Unless I'm imagining things, this has always been the case - ARCA prints don't seem to show up on IB last prices.

If you find IB's odd lot rules annoying, make sure IB hears about it. I've already sent my trouble ticket in.

He is talking about this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=82002

All I know is I got charged.

I am not sure this is an INET restriction. It could be a new IB policy put into place. Just tried to sell 50 shares of a 100 share NEM position I have in an IB account and the order was denied. For Nasdaq shares, a SMART odd-lot order now routes to BTRADE by default.

I would counter that for a person who has reserved a set amount of money to trade a position, it is sometimes useful to use odd lots to build up that position. For a high priced stock like GOOG, your minimum amount per trade is now approximately $50k. And frankly, I don't care who I piss off...

Just so you know, it appears that as of this morning, you can not initiate an odd-lot position on INET through IB either. Very annoying. This certainly is starting to cramp what you can do with odd lot orders now. How are you supposed to do proper portfolio allocation with small amounts of...

I think the only issue you might run into is that you can't initiate an odd-lot position on ARCA through IB. So anytime ARCA is on the best bid/ask, you might not get filled right away. I believe default behavior is to route your odd-lot order to INET. Note that you can exit an odd lot...

This has been an unanswered question on EliteTrader as long as I have been a member. Some people have claimed that high frequency trading in an IRA will eventually be flagged by the IRS and will be treated as UBTI - Unrelated Business Taxable Income. Other people have said that the IRA is the...

For certain types of trading systems, real-time speed is not an issue. I have used Ruby before in trading systems. I do not use Ruby for real-time speed. I use Ruby for speed of development. It has saved me hours of coding time.

I went to the link. Maybe I am ignorant but I don't see any files/libraries to download. Am I missing something? I've never used RubyForge before, maybe that's my problem.

I have a system which requires user interaction to trade (i.e., pressing a button to confirm trades). Otherwise, you might consider it an ATS. The sole reason I made it was for quicker order entry - I don't have to type anything - I just press a button. I have attempted to start general...