IB Odd lots

A

AlphaTail

Just spoke to a customer rep. Odd lots were "turned off" all day today, and will be permanently disabled during the first quarter of 2007, probably around Feb.

I love IB, but my money managment scheme requires the use of odd lots. I hope they don't go through with this.
 
While I don't have a problem with not being allowed to trade odd lots, it is extremely annoying when I enter a 500 shr order and get filled on 450, and then the rest of the order gets kicked out because it is an odd lot.
 
Here's what I got out of them so far:

"The NYSE is forcing us to make this change. They are concerned about customers with odd lots flooding the system with priority orders."

I'm not entirely clear on the answer. What about ecn's? And I also got rejected on Nasdaq today. Supposedly odd lots will be allowed again tomorrow.
 
Quote from SideShowBob:

Is this for all orders, or just orders not routed with SMART?
More...

i got odd lot orders rejected today that were routed via SMART
 
Kicking, he told me that you can close odd lots.

All my odd lot orders were rejected today, SMART, ARCA and ISLAND. It's weird, why not allow odd lots through the ECN's?

And can anyone clarify what a "priority order" is?
 
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