When you place a GTC order for options, IB does not rest the order on the exchange overnight, rather it is held on their own server, then it gets rerouted the next day to the exchange-- hence it is really a DAY order which gets reinstated each day. IB is therefore NOT charged by the exchange for overnight cancellations. Is it safe to assume that we, as customers, are not charged by IB?
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Does IB charge cancellation fees overnight?
- Thread starter Option Trader
- Start date
Quote from Option Trader:
When you place a GTC order for options, IB does not rest the order on the exchange overnight, rather it is held on their own server, then it gets rerouted the next day to the exchange-- hence it is really a DAY order which gets reinstated each day. IB is therefore NOT charged by the exchange for overnight cancellations. Is it safe to assume that we, as customers, are not charged by IB?
it seems doubtful you would be charged. why don't you simply test it?
I may cancel in any given day 10-15 orders, and get fills on a dozen or more, including partial fills, and don't know where to start with that. First of all, does a partial fill by day end count to offset?Quote from zdreg:
it seems doubtful you would be charged. why don't you simply test it?
Quote from Option Trader:
When you place a GTC order for options, IB does not rest the order on the exchange overnight, rather it is held on their own server, then it gets rerouted the next day to the exchange-- hence it is really a DAY order which gets reinstated each day. IB is therefore NOT charged by the exchange for overnight cancellations. Is it safe to assume that we, as customers, are not charged by IB?
no, MB does(have no idea why)