IB - How to get between bid/ask spread on Futures?

D

dfd

I noticed when reviewing Futures data (e.g., VIX futures) that occasionally the transaction posted will be between the bid/ask spread even though I have no option to select anything between them (e.g., VIX futures might be 14.05/14.10 and I see the latest trade posted at 14.07) when entering a trade.

How do I get between the bid/ask spread using IB? Or is that not possible?
 
This happens with the VIX futures when you are trading a VIX future time spread. When you are trading the future outright, you can't do it in penny increments.
 
dfd said:
I noticed when reviewing Futures data (e.g., VIX futures) that occasionally the transaction posted will be between the bid/ask spread even though I have no option to select anything between them (e.g., VIX futures might be 14.05/14.10 and I see the latest trade posted at 14.07) when entering a trade.

How do I get between the bid/ask spread using IB? Or is that not possible?
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I believe a floor broker can print spreads in pennies.
 
Also, to follow up on Robert's answer, it's not just floor brokers -- there's electronic access to penny-increment VIX spreads as well. For example, IB offers it.
 
buysellhold said:
Also, to follow up on Robert's answer, it's not just floor brokers -- there's electronic access to penny-increment VIX spreads as well. For example, IB offers it.
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Then IB must have a broker in the crowd. The CBOE and other brokers told me that is the only way to do that, unless there has been a change in policy. It promotes the use of members.
 
Robert Morse said:
Then IB must have a broker in the crowd. The CBOE and other brokers told me that is the only way to do that, unless there has been a change in policy. It promotes the use of members.
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Not true Robert. As I said in post #3, VIX futures time spreads can trade in pennies. I traded these quite a bit through Redi. Also I don't believe there is a "crowd" for the VIX futures.
 
FSU said:
Not true Robert. As I said in post #3, VIX futures time spreads can trade in pennies. I traded these quite a bit through Redi. Also I don't believe there is a "crowd" for the VIX futures.
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I misread the post. I thought it was about options on VIX.
 
Actually Vix option spreads can also trade in pennies. This can be done electronically through the COB or with a broker. The options, if traded by themselves, not in a spread, cannot trade in pennies, even with a broker.
 
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