byebye Interactive

[Scanman]

The Customer Agreement is changed with immediate effect [5 MAY 2023] for the parts that describe the circumstances where IBIE faces the client in a principal capacity (not as agent) when operating as Systematic Internaliser in the execution of clients’ transactions. These are Section (2C (i)(a)): Fractional Share Trading – Capacity and Section (2A (vi)) IBIE Trades as Agent or Principal. The remaining amendments will apply from 5 June 2023 and the revised agreement will replace the current version in full on 5 JUNE 2023. You can view the revised Customer Agreement HERE.


bye bye interactive

 

[spy]

BTW, which not-for-profit borker will you be moving your funds to?

 

[jys78]

BTW, which not-for-profit borker will you be moving your funds to?

Exactly. Also, this shouldn't be material for most anyway.

 

[Scanman]

a broker who doesn't need to write this

In order to limit its risk exposure, IBIE may limit the number of transactions that it undertakes to enter with the same client at the published quote. In addition, IBIE may limit the total number of transactions from different clients at the same time where the number and/or volume of orders sought by clients considerably exceeds the norm and the execution of which would expose IBIE to undue risk. Any such limitations will not result in the discriminatory treatment of clients and will be enacted in accordance with IBIE's risk management policies.

in other words, they can do what they want by citing causes that are out of the ordinary

 

[ZBZB]

What broker does not internalise?

 

[TheMordy]

a broker who doesn't need to write this:

In order to limit its risk exposure, IBIE may limit the number of transactions that it undertakes to enter with the same client at the published quote. In addition, IBIE may limit the total number of transactions from different clients at the same time where the number and/or volume of orders sought by clients considerably exceeds the norm and the execution of which would expose IBIE to undue risk.

Maybe dumb question, but what undue risk could IB be exposed to with a regular order? they just buy the stock from NASDAQ at the current price, and store it on my behalf. If current price not available, the the order will not go through on NASDAQ, what has IB 'risk' to do with my order ?

 

[MoreLeverage]

These are Section (2C (i)(a)): Fractional Share Trading – Capacity and Section (2A (vi)) IBIE Trades as Agent or Principal

There is no allowed trading of fractional shares on the stock exchanges, so of course they have to be internalized. The brokers are doing you a favor by offering this at all, and no one is forcing you to buy fractional shares anyway.

 

[Occam]

What broker does not internalise?

Lime does not internalize at all, as far as I know.

Also, you can opt out of that new IB internalization on IB Pro.

Also, many retail brokers allow you to route ("direct") an order yourself to a particular exchange, and these should never be internalized, AFIK.

 

[TheDawn]

Lime does not internalize at all, as far as I know.

Also, you can opt out of that new IB internalization on IB Pro.

Also, many retail brokers allow you to route ("direct") an order yourself to a particular exchange, and these should never be internalized, AFIK.

How do you opt out of the new IB internalization? I actually have IB Pro.

Thanks

 

[eastern_warrior]

How do you opt out of the new IB internalization? I actually have IB Pro.

Thanks

Simple, Don't trade fractions.