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IB Quote Problems
- Thread starter Htrader
- Start date
The market started selling off today about 2:30 EST and the volume picked up on MSFT and INTC. IB's quotes for MSFT and INTC were stuck, lagging, and/or crossed from 2:30 until the market had sold off about an hour later. IB quote normally lag behind RealTick quote about 1 to 3 seconds. This afternoon IB quotes were lagging minutes behind my RealTick quotes. Total confusion. There was no way to trade these two stocks without another quote source. Folks, IB has not corrected their quote problems. I still think the problem is IB's quote system can not handle the heavy volume. This problem was very expensive for me today as I am sure it was for other traders of fast moving stocks on IB's TWS.
I think IB could display stock quote from Townsend Analytics in TWS and still send orders to the ECNs and exchanges in the same way IB now sends orders. This is not rocket science.
Catoosa
I think IB could display stock quote from Townsend Analytics in TWS and still send orders to the ECNs and exchanges in the same way IB now sends orders. This is not rocket science.
Catoosa
I saw everything you saw Catoosa. Luckily I wasn't long along of stocks when that happened.
The quotes were completely screwed up, some quotes had best bid stuck, some best ask, some both.
I'm used to using limit orders, and it was almost impossible to get orders in that way. Market orders seemed to be working ok.
I think part of the problem is that I am using BEST route, so there is more opportunity for bad quotes from MMs. I wish we still had BEST_ECN so I could've compared.
Meanwhile QCharts and CyberCorp CyberX2 were working fine for me.
I don't even think today's drop was that extreme.
Fleance
The quotes were completely screwed up, some quotes had best bid stuck, some best ask, some both.
I'm used to using limit orders, and it was almost impossible to get orders in that way. Market orders seemed to be working ok.
I think part of the problem is that I am using BEST route, so there is more opportunity for bad quotes from MMs. I wish we still had BEST_ECN so I could've compared.
Meanwhile QCharts and CyberCorp CyberX2 were working fine for me.
I don't even think today's drop was that extreme.
Fleance
Originally posted by Catoosa
The market started selling off today about 2:30 EST and the volume picked up on MSFT and INTC. IB's quotes for MSFT and INTC were stuck, lagging, and/or crossed from 2:30 until the market had sold off about an hour later. IB quote normally lag behind RealTick quote about 1 to 3 seconds. This afternoon IB quotes were lagging minutes behind my RealTick quotes. Total confusion. There was no way to trade these two stocks without another quote source. Folks, IB has not corrected their quote problems. I still think the problem is IB's quote system can not handle the heavy volume. This problem was very expensive for me today as I am sure it was for other traders of fast moving stocks on IB's TWS.
Catoosa
Catoosa,
not the 1-3 second thing again. That is total BS!! IB quotes "normally" do NOT lag Real Tick 1-3 seconds!! Simply do the test I advised in an earlier thread. Enter equity orders on Island and option orders at the PSE and see how long it takes for them to appear and you will see that you are WRONG!!!
There was a problem today and it was a problem specifically with Redibook. Their quotes were frozen which caused all the crossed markets etc. I'm not sure if this was an IB problem or Redibook problem and I'm not sure if it came about because of market activity. But it was specifically a REDIBOOK issue.
Originally posted by mskl
Catoosa,
not the 1-3 second thing again. That is total BS!! IB quotes "normally" do NOT lag Real Tick 1-3 seconds!! Simply do the test I advised in an earlier thread. Enter equity orders on Island and option orders at the PSE and see how long it takes for them to appear and you will see that you are WRONG!!!
There was a problem today and it was a problem specifically with Redibook. Their quotes were frozen which caused all the crossed markets etc. I'm not sure if this was an IB problem or Redibook problem and I'm not sure if it came about because of market activity. But it was specifically a REDIBOOK issue.
I do not need to run your test. I can compare IB's "BEST" quotes to the quotes of RealTick all at the same time and check and see the lag time as it is happening. I read your test method and have my thoughts about it, but I keep my thoughts to myself.
Catoosa
Originally posted by mskl
here is some advice:
When you notice that quotes are crossed or appear to be incorrect. Put up all the ECN's for a stock and then pinpoint which ECN is causing the problems. It is easy to identify, then simply ignore that route (ie. Redibook today).
I agree with this but it does not fix IB's problem with "Best Execution". RealTick and other quote feeds show Redibook quotes when there is a problem with Redibook quotes, but Townsend Analytics does not let one bad quote disrupt their quotes and display of the best market prices. I trade in a page full of stocks and only have room to display "Best Execution" for each stock. Also, "Best Execution" is the best way (in my opinion) to move large blocks in fast moving stocks.
Catoosa
Originally posted by Catoosa
I do not need to run your test. I can compare IB's "BEST" quotes to the quotes of RealTick all at the same time and check and see the lag time as it is happening. I read your test method and have my thoughts about it, but I keep my thoughts to myself.
Catoosa
Your comments about their quotes are untrue.
Do you have any idea what would happen if their quotes were "normally" 1-3 seconds behind?
An active stock's quote will change 95% of the time in 1-3 second intervals. That would mean that 95% of the time you enter marketable orders you would either miss the trade or receive price improvement. If this were the case, IB would lose 90% of their customers and this board would be full of complaints constantly.
I'm not surprised that you chose to "keep your thoughts to yourself" as this is what one would expect when one is truly WRONG.
I would advise you to be honest with your comments because there are actually traders who read these comments. If I heard that a brokers quotes were "normally" 1-3 seconds behind then I wouldn't even consider their services.
Originally posted by shneed
My quotes were about 5 seconds behind Real Tick, and it had nothing to do with REDI or any other ECN, since I only trade NYSE stocks through IB.
shneed
When were they five seconds behind? (around 2:30 to 2:45 EST)
I have no idea if IB was having NYSE problems yesterday.
If you think your quotes are "normally" one second behind I would suggest that you have a unique problem and should seek help. Anytime you think the quotes are late then you should simply do the test I suggested: Enter a limit order on Island and see how long it takes for the order to appear in your quote or enter an option order at the PSE. If you consistently notice that the order takes more than a second to appear then I would seek help as this should not happen.