IB Improvements (Part 3)

Thanks Fleance and Stock. I trade from only one PC, so I'll stick with the standalone. Years ago I used AOL, and would hate it when they would "automatically upgrade" without any consent.

Thanks again.
 
Def, very often when I trade NYSE stocks,
I see "TRIM" and "CAES" on the bid
or the offer of every stock. Many times,
they are the best bid or the best
offer. Is there any way to have IB
Best route to them as well? I've asked IB this question, and this was the reply:



Dear Trader,

TRIM is a market maker. CAES is for marker makers to trade on. Retail customers
cannot direct an order to a specific market maker through our system.
Currently, retail customers cannot trade the CAES directly through our system.
Generally, market makers can participate at any market center available to get
their business done.



Def, do you exactly why "retail" customers cannot participate? Isn't IB BEST suppose to route to the "BEST" available source? Do you think it would be possible to route to them in the future?

Thanks,
shneed
 
are you looking at level II or the acutal exchange? If it is level II and a market maker is posted with the best NBBO then supersoes will execute with them.

In the past IB made deals with some specific market making firms stating they would execute on the NBBO but they only lasted for short times as the firms realized they couldn't make money against IB customers (too fast, instead of them picking off their typical clients, they ended up losing money).

I don't think you're missing much and/or anything. If you see a price you want to hit, just send a limit order via best. My guess is that you will be filled.
 
Def,
I am looking at level 2, are you saying that if I see a mm on the screen for a NYSE stock, I can hit them with a SuperSoes order? If that's the case, shouldn't "BEST" order do that automatically? Also, If I see them on my level 2 screen, I do not see their price reflected on the TWS when they are the best bid or best offer.

Thanks,
shneeed
 
didn't realize you meant NYSE. No you can not SuperSoes them. But given the experiences you all have before SuperSoes was in existance, do you think TRIM will honor their quote and give an instantaneous fill? If they are really there with their quote, if you send the same price to the NYSE or elsewhere, they would trade with you.
 
CBOT Eliminates Market Data
Fees for IB Customers

Effective May 1, 2002, the
CBOT has eliminated market
data fees for IB retail
customers for all CBOT Level
1 & 2 quotes. CBOT futures
include the newly launched
mini-sized Dow futures, US
Treasury Bonds, Notes & Fed
Funds futures.
Futures account customers
currently subscribed to ACE
data, will be charged for
the month of April, but will
have their fees waived
beginning with the month of
May (June billing).
 
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