IB FA account fills worse than OEC fills

S

SideShowBob

I noticed and tested further to confirm that my fills in identical stop orders (stop orders in futures on ICE/NYBOT and NYMEX/GLOBEX) are worse with IB than with OEC. Since I'd expect maybe a 50/50 split the fact that the IB fills are ALWAYS worse makes me think the FA allocation (I have an FA account with IB) is slowing down the trades.

Is there some way around this? Maybe to get the trades pre-approved (by TWS) so they will not have a delay?

SSB
 
Bob -

IB simulates stop orders on NYMEX which generates inferior fills to exchange-held stops. I'm glad you brought this up.

GLOBEX has offered native stop limits and stops with protection for years. Customers should really have a routing choice - there are legitimate reasons to simulate a stop (more relaxed triggers), but you should have the option of going to the exchange.

Another one which drives me crazy is simulated icebergs. You throw up an $80 bid for 50 contracts displaying 1. Next lower bid is $79.90 for 100. Someone throws in a market order to sell 100, you get filled on 1 and get traded through on 99 - then your 1 lot bid pops up again. Icebergs have been native to GLOBEX/NYMEX/ECBOT/ICE for years and offer trade through protection.
 
Interesting, I hadn't realized that. Would stop limits (which are native) protect against this (using a stop price far enough away to almost always guarantee a fill)?

Of course at IB only market and limit orders are native for ICE...will check if that is at ICE or only at IB....
 
Quote from SideShowBob:

Interesting, I hadn't realized that. Would stop limits (which are native) protect against this (using a stop price far enough away to almost always guarantee a fill)?

Of course at IB only market and limit orders are native for ICE...will check if that is at ICE or only at IB....
More...

It's just IB - they refuse to allow you to route stop limits to the exchange in any NYMEX or ICE product even though they are available on both markets.

The only exception is GLOBEX index and FX products (ES, NQ). Anything designated NYMEX or ECBOT only lets you use simulated stops which is silly because they're all technically GLOBEX.
 
Quote from brownsfan019:

Or just trade at OEC.

:)

Yeah, I know, the outage this week sucked.
More...

I did. I got sick of errors preventing me from entering orders over the weekend. And I was not able to trade several products listed on their website, and nobody could give me an answer why. Oh and they don't have FA accounts or anything similar (unless they've recently added it).
 
Quote from SideShowBob:

I did. I got sick of errors preventing me from entering orders over the weekend. And I was not able to trade several products listed on their website, and nobody could give me an answer why. Oh and they don't have FA accounts or anything similar (unless they've recently added it).
More...

Apparently now OEC does have FA style accounts. I'm not sure about weekends but I am setting up an API based app to handle order submission for me so that won't be an issue.

SSB
 
Quote from atrocious:

It's just IB - they refuse to allow you to route stop limits to the exchange in any NYMEX or ICE product even though they are available on both markets.

The only exception is GLOBEX index and FX products (ES, NQ). Anything designated NYMEX or ECBOT only lets you use simulated stops which is silly because they're all technically GLOBEX.
More...
There's a way to send an ES stop limit order to Globex at IB? How do you do that? Mine are all held at IB.
 
You must log in or register to reply here.
Back
Top