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Can anyone at IB tell us when native NYSE hidden orders will be supported?
- Thread starter trader422
- Start date
I'm happy about the new hidden exchanges available, but right now Island has the biggest rebate on commission for non displayed (hidden) orders. Yet when choosing Highest Rebate or even the Highest Volume Exchange with Rebate for the smart routing configuration, Island isn't the destination that the order goes to when the hidden order is sent. Could this be fixed?
NYSE hidden order bad behavior alert:
I've been working with hidden orders regularly now since August 6 ... until this week, NYSE hidden orders seemed like the "real deal" - out of thousands of hidden orders I never saw ANY evidence that anyone could see them. Then this week I'm noticing very obviously that someone knows all about some of them (seeing this on maybe a dozen symbols, no pattern as to which symbols) ... It's like this: I'm working a NYSE hidden order one or two levels back in the market depth and several hundred displayed shares are joined with me. I go to better my market and the diplayed shares join me again instantly ... I change my market up and down several times and the displayed shares stick to me like glue ... I cancel my hidden order and the displayed shares vanish.
In other words, these hidden orders act like displayed orders frequently behave in the modern world of nasty HFTs.
Can any elitetraders tell me, or speculate on, precisely what is going on here? Maybe it's a side effect of having a hidden RLP order working? Maybe the HFTs have a way that I have not heard about to ping hidden NYSE orders? Any feedback would be appreciated...
I've been working with hidden orders regularly now since August 6 ... until this week, NYSE hidden orders seemed like the "real deal" - out of thousands of hidden orders I never saw ANY evidence that anyone could see them. Then this week I'm noticing very obviously that someone knows all about some of them (seeing this on maybe a dozen symbols, no pattern as to which symbols) ... It's like this: I'm working a NYSE hidden order one or two levels back in the market depth and several hundred displayed shares are joined with me. I go to better my market and the diplayed shares join me again instantly ... I change my market up and down several times and the displayed shares stick to me like glue ... I cancel my hidden order and the displayed shares vanish.
In other words, these hidden orders act like displayed orders frequently behave in the modern world of nasty HFTs.
Can any elitetraders tell me, or speculate on, precisely what is going on here? Maybe it's a side effect of having a hidden RLP order working? Maybe the HFTs have a way that I have not heard about to ping hidden NYSE orders? Any feedback would be appreciated...
Got gamed pretty nicely in a stock this morning. I was ahead of the NBBO but with a hidden NYSE order. All of the sudden I get filled for 12 shares(100 buy order), a bunch of trades go at my price, but not fill for me
The HFT scumbag probably had a flash of market orders coming, sent a 12 share sell order just find out where the liquidity was, then he jumped at my price, I had no priority so he filled ALL the market orders there and I'm stuck with 12 shares of a stock plus I paid commissions(And will pay again to get out)
IB needs to URGENTLY implement Philadelphia Stock Exchange hidden AllOrNone orders, its the only way to completely protect yourself
The HFT scumbag probably had a flash of market orders coming, sent a 12 share sell order just find out where the liquidity was, then he jumped at my price, I had no priority so he filled ALL the market orders there and I'm stuck with 12 shares of a stock plus I paid commissions(And will pay again to get out)
IB needs to URGENTLY implement Philadelphia Stock Exchange hidden AllOrNone orders, its the only way to completely protect yourself
Comment on ARCA hidden orders:
Looks like ARCA hidden orders have changed recently - they seem to be working fine now so far as IB is concerned (they were not working at all when I posted ARCA comments above in this thread) ... plus, I notice that the online exchange documentation has changed from language indicating the order type was only available to market makers, to language suggesting that the order type is available to all.
Looks like ARCA hidden orders have changed recently - they seem to be working fine now so far as IB is concerned (they were not working at all when I posted ARCA comments above in this thread) ... plus, I notice that the online exchange documentation has changed from language indicating the order type was only available to market makers, to language suggesting that the order type is available to all.
Quote from IBsoft:
Yes, that would make sense to do, unless the user specifies the "post-liquidity-only".
We'll make the change.
IBsoft- The routing out of hidden orders that go marketable still does not work. Had a hidden 29.74 bid sit there today for 5 minutes with stock offered at 29.70. Please respond here or via PM if you'd like me to send the order details to someone.