IB - fractional cent limit order entry?

I think that these message boards have really helped in getting IB to make constructive changes. They have really started to 'get it' regarding customer service, and iit seems that they are listening to suggestions and acting on them. More of the IB discussion has moved to the new IB board where IB management is actively participating in an official capacity. You would be well advised to read those boards to judge progress.

99
 
Originally posted by alanm


Can you give an example of where "biggest size first" occurs?

Just about everywhere except for a few ECNs...nasdaq L2, options markets...
More...
 
Originally posted by bungrider
Originally posted by alanm


Can you give an example of where "biggest size first" occurs?

Just about everywhere except for a few ECNs...nasdaq L2, options markets...
More...

This is just not true. Sometimes it seems to me that some people intentionally try to preserve their ignorance so they can blame their trading mistakes on others.

- every single ECN enforces strict price and time priority on its order flow

- Nasdaq's SuperSOES (as well as the old SOES) executions system enforces strict price/time priority among all participants. Even the treatment of reserve size matches that of the major ECNs. SelectNet which is still in use in the Nasdaq SC segment and optionally for oversized orders with NM stocks is rather a negotiation than an execution system and counterparty selection is driven exclusively by the decisions of each market participant.

- options exchanges: Options MMs are never allowed to trade ahead of customer order flow (the same applies to NYSE/AMEX stock specialists).

dave
More...
 
You must log in or register to reply here.
Back
Top