Does IB Hide ISE quotes on some stocks. Is this fraud?

[stock777]

Didn't Samaritan say that even though the quotes didn't show, the routing was live?

I have myself reported quote anomalies
and while it took some time, they were eventually fixed. And yes , frontline CS is usually not sophisticated enough to respond without some prodding. I doubt if they hire traders with years of experience in that capacity.

Of thousands of customers, it appears very few see, or care that all routings are correct. I've seen issues last for MONTHS without correction until I reported them. Usually these affect a subset of stocks, that might be below the radar of many.

Still, with many thousands of customers, it's amazing to me that any problem would go unnoticed for so long.

 

[BobG]

Quote from stock777:

Didn't Samaritan say that even though the quotes didn't show, the routing was live?

Yes, but customer service repeatedly told me that routing was NOT live.

Quote from stock777:

And yes , frontline CS is usually not sophisticated enough to respond without some prodding.

In other words, you agree that their reps are untrained and unsupervised?

 

[lianjieman]

Quote from BobG:

I'm not sure exactly what you meant by that.

I was hoping that someone would confirm that this is a tech problem rather than a deliberate policy by IB. That would save me the trouble of filing a complaint with the NASD.

Now you should know what I meant in my previous post. If anyone posts complaint here, he would definitely get lots of posts to prove you're nonsense and "you're still bitching" by those “trader” aliases who can afford post thousands of messages here without paid by IB.

To further prove my point, please check out these threads --> http://www.elitetrader.com/vb/showthread.php?s=&threadid=120339
http://www.elitetrader.com/vb/showthread.php?s=&threadid=65260&perpage=40&pagenumber=1
They were all mysteriously closed right after IB "trader" post bunch of lies. I wonder why IB are so afraid to let people to respond to their claims if they are so righteous.

 

[Robert Weinstein]

Quote from def:

Bob,

IB routes to over 70 exchanges worldwide. While it would be ideal for each CS to know the details of every exchange, it isn't practical. However, they should know when to pass along an item to programming when they aren't sure. In this case, they didn't understand the issue and as a result provided inaccurate information. Samaritan, intimately knows the code and I would go with his comments.

Hello Def and IB,

The bigger problem is that IB staff on the phone and chat are 'clueless' and I mean that respectfully and to inform NOT to be rude.

I have been an IB customer for years and in the course of doing business I have called and chatted with IB support.

Perhaps its just been my experience and not the normal experience but I have always had very long waits and NEVER and I mean literally never received a full and correct answer.

Right or wrong (and it hasn't caused me to leave IB yet) I fully believe that IB has made a management choice not to put the money into support that would be needed to have a quality support for customers.

So when I read the OP issue and then read your issue that the staff that the OP contacted was incorrect I am not suprised at all.

If you have people answering the phones is it too much to ask that they actually can be of assistance and not just 'get you off the call and on to the next one'??

 

[FutureTrader10]

Quote from 1Reason:

........

Perhaps its just been my experience and not the normal experience but I have always had very long waits and NEVER and I mean literally never received a full and correct answer.
........

Waiting long time on the phone is nothing comparing with this guy's experience ---> http://www.elitetrader.com/vb/showthread.php?s=&threadid=120339
http://www.elitetrader.com/vb/showthread.php?s=&threadid=65260&perpage=40&pagenumber=1

It took IB four months to return some of his money claiming wiring difficulty, and IB has still not returned all his money after over two years.

 

[4DTrader]

Quote from def:

Bob,

IB routes to over 70 exchanges worldwide. While it would be ideal for each CS to know the details of every exchange, it isn't practical. However, they should know when to pass along an item to programming when they aren't sure. In this case, they didn't understand the issue and as a result provided inaccurate information. Samaritan, intimately knows the code and I would go with his comments.

def,

Does IB get paid for routing orders to exchanges?
I had a talk with an IB CS rep recently, he told me Scottrade gets paid for routing orders to exchanges. If an exchange refused to pay a broker, that broker certainly has the motive not to route orders to that exchange.

 

[stock777]

Quote from BobG:



In other words, you agree that their reps are untrained and unsupervised? [/B]

Uh , well, they come from the same gene pool as many that post here on ET. iykwim.

I'm sure they are trained and supervised, but have you dealt with the real world lately?

My criteria is how long it takes to get something fixed, not whether the CS understands the esoterica perfectly on the first telling.

 

[samaritan]

Back to the original topic.
BobG, I think you will find that ISE market data is now being displayed on the TWS for ARCA-listed stocks.
Thank you for bringing this to our attention.

 

[chud]

I just placed a smart routed offer at 1.90 on a stock option that went to ISE. My offer didn't show up as best offer. The displayed offer price changed to 1.95. Is this part of the same problem? Just saw this about an hour ago.

 

[stock777]

Quote from samaritan:

Back to the original topic.
BobG, I think you will find that ISE market data is now being displayed on the TWS for ARCA-listed stocks.
Thank you for bringing this to our attention.

Have you looked into the routing for CINN? I do not see it displayed at all on TWS. I use multiple L2 sources so I have a reference.