Can I trade pit-traded commodities with Interactive Brokers?

[ids]

It will work as usual. You enter your order and we will execute.

 

[Vienna]

Quote from ids:

It will work as usual. You enter your order and we will execute.

OK, sorry for the silly questions. IB tells me that I need to subscribe... If I dont, it tells me market data access has been denied... how can I enter trades then?

 

[ids]

There is no market data but you still have a line with the contract specification. Open order ticket, fill it in, and transmit.

 

[Vienna]

ok, now i get it... thanks.

 

[OldTrader]

Quote from Vienna:

ok, now i get it... thanks.

Except that if you use ButtonTrader it functions off of IB data. I don't see why you wouldn't subscribe...it doesn't cost anything.

OldTrader

 

[Vienna]

Quote from OldTrader:

Except that if you use ButtonTrader it functions off of IB data. I don't see why you wouldn't subscribe...it doesn't cost anything.

OldTrader

Yes it does, CME and CBOT together about 90 bucks a month... no big deal, of course....

 

[OldTrader]

Quote from Vienna:

Yes it does, CME and CBOT together about 90 bucks a month... no big deal, of course....

OK, maybe I misspoke. I follow corn for instance....ZC...no charge. ZC is the electronic symbol. I'm trading gold (GC at the Nymex, pit and electronic), crude oil (CL at the NYMEX, pit and electronic), bonds and notes, etc., all active contracts, all electronic, at no charge.

Now if you're wanting to trade cattle...maybe that's extra if you want it traded in the pit.

But frankly, there's a lot of variety in the electronic contracts which you can trade at no cost for quotes.

OldTrader

EDIT: And then there's still the issue of ButtonTrader needing quotes.

 

[Vienna]

Quote from OldTrader:

OK, maybe I misspoke. I follow corn for instance....ZC...no charge. ZC is the electronic symbol. I'm trading gold (GC at the Nymex, pit and electronic), crude oil (CL at the NYMEX, pit and electronic), bonds and notes, etc., all active contracts, all electronic, at no charge.

Now if you're wanting to trade cattle...maybe that's extra if you want it traded in the pit.

But frankly, there's a lot of variety in the electronic contracts which you can trade at no cost for quotes.

OldTrader

EDIT: And then there's still the issue of ButtonTrader needing quotes.

 

[Vienna]

Quote from Vienna:

Sorry, did not paste right.

Yes,with corn etc. you are correct... is the general idea that all these markets will eventually go electronic?

 

[lar]

Quote from Vienna:

Yes it does, CME and CBOT together about 90 bucks a month... no big deal, of course....

Vienna,

You may find this relevant:

By Ann Saphir


Vote on CME/CBOT merger to be held April 4
Exchange shareholders and investors to have say on $8.7-bil. deal
(Crain’s) — The Chicago Mercantile Exchange and the Chicago Board of Trade have set April 4 for shareholders and members to vote on the CME’s proposed $8.7-billion acquisition of the CBOT.

The date was included in a government filing today. With the Department of Justice’s ongoing antitrust investigation of the deal, it’s likely the vote will take place before it’s known whether the transaction will receive regulatory approval.

The combination of the two exchanges will create a market that accounts for almost 90% of business transacted on U.S. futures markets. The exchanges say the deal won’t reduce competition because they don’t compete directly with each other and because they each compete not only with other global exchanges but with products traded outside of exchanges.

Shareholders of both exchanges, and members of the CBOT, must approve the deal before it can be completed.



Peace and gtty,

Lar