How to get first in line while invisible? (IB)

Can you explain what you mean by can't price 1/10 cents anymore? Thanks

Quote from stock777:

Everyone, especially the MM's are wise to the hidden isld trick and play around it. Next to useless on most stocks, especially since you cant price in 1/10 cent anymore. One more edge gone.
More...
 
Quote from Shreddog:

Edit:
FYI, reading the rest of this thread, my response from 2004 is incorrect. On INET visible orders jump ahead of hidden orders in the queue at a given price. [/B]
More...

That's interesting...do you mind providing a link or telling how you found out that visible orders on INET jump ahead of hidden orders? I wonder if this is changing with the integration of INET into NASDAQ..
 
Quote from giggollo:

That's interesting...do you mind providing a link or telling how you found out that visible orders on INET jump ahead of hidden orders? I wonder if this is changing with the integration of INET into NASDAQ..
More...

Honestly, I don't remember anymore. But my guess is I found it either on the NasdaqTrader or Island sites. I had actually done an experiment at one time to prove to myself it really did work that way.

If I find a link I'll post it here.

I wouldn't think that would change with the integration, but who knows.
 
from memory, what he says is correct.

i believe (and since i can't 100% remember it, i'm putting that caveat there) that i did the following:

placed a hidden order at .xx2c

got filled for part.

a VISIBLE order went in at .xx2

trades went there, and his size was reduced. none of my order was filled.

i then moved hidden to .xx4 and got hit.

i don't want to swear to it, but i'm reasonably certain this happened.
 
You must log in or register to reply here.
Back
Top