IB new forex spreads

According to their data, they currently have 5:

IB's IdealPro (match among ourselves)
BOA,
RBC
HSNC
Barcfx

which coincidentally is the same 5 providers used for almost all the currency pairs.

Question for IB people, what happened to the other 5 liquidity providers (10 total) claimed in earlier postings?
 
Quote from Trader KGB:

Just noticed that NZDUSD is open for trading on IB, I guess I missed the notice.

Steve @ IB, any chance NZDJPY will be offered on IdealPro instead of just Ideal? Also, are all of your liquidity providers linked in to the NZDUSD book? I only see one level of depth.
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Good question and when is IB going to start a new margin system for crossrates?
 
Quote from IBj:

We will be releasing some new order routing algorithms in the next few days intended to better integrate the small order facility (IDEAL) and the main trading platform (IDEALPRO).
  • Large Order Routing Protection: orders submitted for more than the minimum order size (currently ~25K USD) will be automatically routed to the bank market, even if they are accidentally entered into IDEAL. This is intended to provide better fills for clients who erringly enter larger orders into the less liquid small order book. There are limitations to this added protection (for example, KRW is not available in the interbank market) but it should eliminate most pricing problems and mistrades.
  • Residuals: residual small orders will still be executable on the interbank market. Example: client A submits buy order for 40K USD.CHF. Client B submits sell order for 50K, executed against the resting 40K bid, but leaves a 10K residual. Previously, this residual would not be sent to the banks because it would be less than the 25K minimum. Under the new algorithm, the 10K will be executable on the interbank quotes, even if the price is changed. If the size is changed, however, it will be deemed to be a new order and will be subject to the minimum order size restriction.
  • Merging IDEAL/IDEALPRO: you can enter small orders directly into the IDEALPRO quoteline. When you hit submit, you will get a warning message that the order is too small for the interbank market but it can be accepted anyway. If accepted, these small orders will actually get routed to the IDEAL small order facility. The point of this new feature is to merge the forex access to a single order entry point via IDEALPRO.
  • Improved IDEAL (small order) liquidity: there will be an imputed small order quote 1 pip outside the interbank BBO. Small orders will execute against these prices to ensure that small orders get reasonable fills. This feature combines with the previous one to produce a seamless facility. Small orders get treated like odd-lots and get a slightly worse fill but the maximum additional cost is roughly $2.50 and small orders are infrequent as they are for balance flattening or conversion (as opposed to trading).
The exact timing of the various features is imprecise but they will be integrated over the next 1+ weeks.
Next on the FX list:
  • additional liquidity providers (banks)
  • possibility to trade larger sizes per order
  • additional currencies (ILS, SGD, NZD, NOK, DKK, MXN)
  • margin methods
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time to make good on your list.
 
9 pm est is probably the weakest time in the market. only the audusd is active at that time. try at 2-7 am est. the bid/ask range is tightest during the active sessions only.
 
Quote from Moe27:

time to make good on your list.
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For once, IB is ignoring a thread. Kinda rare. Usually, they give us an answer one way or another. If they were working on it then ---they have to still be working on it???
 
I just pulled Ideal Pro USD fx on the newest TWS.

They have several new currencies listed. Most notably the USD/RUB. Rubles baby......but no quotes coming yet.

IB ya adding new currencies anytime soon?
 
Quote from phorex_phreak:

....a few years ago i read a book called stock market wizards by jack d. schwager....i read the book and on page 166 at the bottom of the page there was a paragraph that transformed my trading and life....i created a strategy based on that paragraph i read and ive been a success ever since.........phreak
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Which edition, I wonder ? If you're still around, please let me know how the paragraph starts (p.166 is the Ed Seykota interview in my edition).

Btw, did you switch to IB.... maybe it's just me, but I have the impression that the spreads have actually widened slightly recently... maybe just the market volatility... ?

J.
 
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