IB Needs Better Order Execution Quality Control

[def]

Quote from stock777:

IB is now saying theres a delay inherant in the SuperSoes feed.

Still, that would not explain the complaints about NYSE and AMEX stock delays (using ECN's), which have not been verified by many as yet.

just to clarify, it is not the SuperSoes fees. It is delays in their reporting of executions. They upgraded software and we are rolling back to their previous version until they/we can resolve the execution reporting delays.

 

[murray t turtle]

Quote from spyderman:/Jim Rockford

Jimrockford...I believe you entered your order during a fast market condition and were queing off a bad quote. Markets are dynamic; I looked back on the chart and saw the spike down and spike up. You were looking at history, whether it was IB's "fault" or the Amex's "fault" or the ECN's "fault". I disagree with your handling of the IB problem.

you should write Peterfly a letter .....

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JimRockford;
You are right to help enable/exclude AMEX from SMART;
and Praytorian2 helped that along also Thanks

True, IWM is highly liquid, may want to write Peterfly a brief letter.

And just how much slippage were you exspecting during a FED fast or near fast FED announce,
that is with a '' fast jumpy personality stock like IWM?????,

 

[jimrockford]

JimRockford;

True, IWM is highly liquid, may want to write Peterfly a brief letter.

And just how much slippage were you exspecting during a FED fast or near fast FED announce,
that is with a '' fast jumpy personality stock like IWM?????

I never quantified my expectation of slippage. My expectation was that since immediate automatic execution, at the best bid, was available at the time I entered my order, and for most of the next 34 seconds, my order should have simply been routed to the NBBO and executed in less than half a second after I entered it. (If AMEX and/or NYSE had been alone at the inside bid, then they would have caused unavoidable delay, but this was not the case).

My second expectation was that if my first expectation failed to occur, then IB would have a competent employee investigate the reason, and take this as an opportunity to improve the quality of order execution. There is a very important term for this process: it is called "quality control".

I just got a letter from IB assuring me that in the future, competent employees would investigate order execution problems. I think and hope this means that IB will be improving its quality control.