IB and Patsystems

well it depends on the stock and its liquidity and specialist.
but usually limit orders close or within the market are very fast. market orders sometimes even faster [liquid stocks only of course].
no comparison to cybercorp for instance, which is very very slow for listed stocks [well at least when I used them a year ago].
neo
 
>RE: Fast fills at IB...
>
>That's incredible! Are you talking about
>listed securities here?

Sorry, I should have been more precise. I only trade the Naz. The fills to which I refer are ECN fills. Island is the fastest (practically instant) followed by Inca and Redi (usually 1 to 2 seconds) and then Arca (never can tell), Brut, Mkxt.

JB
 
When I asked about speed of trading,I was not talking about
getting a fill after hitting the transmit "button"
I would like to trade with IB,but I saw the Patsystem or J-trade and I was impressed.If one is not sure what it is,
here is an example at this web site:
http://www.onlinetradingselect.com Go to Refco Direct and see the guided tour
.Basically,one would click on the bid to sell and click
on the offer to buy.What I like best is the box that opens
with limit prices.No reason to use the keyboard.There are
hot keys as well.
Does anyone know of other brokers that use Pats or J-trade?
 
>When I asked about speed of trading,I
>was not talking about getting a fill
>after hitting the transmit "button"

IB's execution interface weakness is evidenced when one wishes to quickly trade a security the user has not previously 'setup'.

Where IB's execution interface shines is when the user is trading securities whose identities are known in advance and a trading page is specifically prepared for it.

Futures clearly fall into the second catagory. You will not be disappointed with the IB interface.

My opinion.

JB
 
Originally posted by Redart11
When I asked about speed of trading,I was not talking about
getting a fill after hitting the transmit "button"
Basically,one would click on the bid to sell and click
on the offer to buy.What I like best is the box that opens
with limit prices.No reason to use the keyboard.There are
hot keys as well.
More...

You don't need to use the keyboard either with IB [if you chose not to]. You can click the bid or ask and an order with the right price is created, you can transmit or wait.
You can change the price with the mouse or keyboard or hotkeys.
You even click cme's "level 2" to fill in an order at the price you want within 5 levels. Only 'bug' is the number of contracts is the cumulative size not your default size [I hope IB changes this soon].

IB is very fast and more compact than other interfaces. indeed, when you trade always the same market IB is very good. the special orders [OCA, stops etc..] are very good too for futures. that's another speed factor.
 
tntneo,
To clarify, I believe the size defaulting to the depth was designed that way for institutions who want to take out the book. Nevertheless, you'll be happy to hear that it will either be changed to your default size or made a configuarable option within the next few releases.

Also glad to hear you guys seem happy with the future order routing. If you've got other suggestions of merit please let me know (via e-mail or via the IB improvements thread on this site).
 
>Nevertheless, you'll be happy to hear that it will either >be changed to your default size or made a configuarable >option within the next few releases.

I'm gone be very happy when this comes
 
yes, indeed. I am looking forward this level 2 feature for retail accounts.

on a side note, I can't find the beta release page on IB's web site anymore. pity I liked that a lot. where is it ?

neo
 
neo,
the beta/new release info was temporarily removed from the site during the revamp. i was just informed that parts are being re-written and will be put back shortly.
 
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