Does IB offer ticker chart for e-minis?

[def]

I can't say I agree with that. IMO, the original idea was to provide an inexpensive source of option order flow to Timberhill, their trading arm. They love the retail flow. In the early days of PFOF in options, it was getting very expensive to set up these DMM relationships where you received directed option orders. Having control over their own option order flow was a new concept back then, for a MM. I was on the Option allocation committee on the AMEX. Timber Hill through a subsidiary was a Specialist on the floor and went after most new option listing. They did not win too many as in general, their markets were wider and smaller than others. Getting directed order flow was in some ways easier than getting a Specialist allocation. Having your own order flow was better than free.

Robert, you are completely wrong regarding Timber Hill. IB was set up to level the playing field. OTC orders would trade at one vol off floor and the banks would lay off their trades on the trading floor at a lower price. Institutions trading OTC were getting ripped off as there was no price transparency. Furthermore, the mathematical models and computing power which Timber Hill pioneered and invested in, were becoming a commodity. It made sense to take advantage of the global network we built to service institutional and retail brokerage. Timber Hill didn't get to see IB retail flow. In fact, in the early days we didn't service retail at all. The systems were designed to put on institutional trading desks. That has been stated countless times before so I'm not going to rehash it (and that isn't hearsay as I was on the Timber Hill desk from the early days). The fact is, TH had a large market share and any increase in any option flow would benefit TH as trading increased. Looking back, it really was a no brainer, create price transparency, give your clients a fair chance to make money and all ships rise in a rising tide.

Now, if you want to talk AMEX and the ridiculous and arguably corrupt specialist system we can do that.

 

[Robert Morse]

Robert, you are completely wrong regarding Timber Hill. IB was set up to level the playing field. OTC orders would trade at one vol off floor and the banks would lay off their trades on the trading floor at a lower price. Institutions trading OTC were getting ripped off as there was no price transparency. Furthermore, the mathematical models and computing power which Timber Hill pioneered and invested in, were becoming a commodity. It made sense to take advantage of the global network we built to service institutional and retail brokerage. Timber Hill didn't get to see IB retail flow. In fact, in the early days we didn't service retail at all. The systems were designed to put on insertional trading desks. That has been stated countless times before so I'm not going to rehash it (and that isn't hearsay as I was on the Timber Hill desk from the early days). The fact is, TH had a large market share and any increase in any option flow would benefit TH as trading increased. Looking back, it really was a no brainer, create price transparency, give your clients a fair chance to make money and all ships rise in a rising tide.

Now, if you want to talk AMEX and the ridiculous and arguably corrupt specialist system we can do that.

Good to have you back!

 

[JamesWarren]

Is it true that for IBKR even when my commission is $500/month and with cross-connect, I will never able to get better at Tick Data because of 250ms tick data snapshot?