IB - slow order submission

[samaritan]

Quote from BlueHorseshoe:



Well, I hate posting on a thread started by someone on my ignore list (minimi/qdz)... but the post is appropriate.

Some TWS order executions are still painfully slow on the latest standalone version. Today's example:

12:09pm EST I entered an order to Buy 1 DIA June 75.0 Put (DAVRW) for $0.05. The 'Ask' was $0.05, 200 contracts.

I watched as this order took 1 minute 40 seconds to execute!

This is just an example, but I've lost nickels & dimes with delays trading OEX and SPX options.

This, despite IB's e-mail that 'the problem should be fixed.'

Samaritan you still listening?? (Yes I sent trade details to helpdesk. Btw, if we e-mail using IB's online template, we cannot customize the subject line as you suggest above.)

I am still listening, but what you are talking about is not the problem that was originally described in this thread. There is difference between slow order execution and slow order entry (i.e. the time it take for the order to go "green"). The later is the problem that was investigated and recently solved. I will try to find your order and see why you did not get an immediate fill. If you can, pleas PM me with your IB account, username, or the person you spoke to at the help desk.

 

[BlueHorseshoe]

Quote from BlueHorseshoe:


Some TWS order executions are still painfully slow on the latest standalone version. Today's example:

12:09pm EST I entered an order to Buy 1 DIA June 75.0 Put (DAVRW) for $0.05. The 'Ask' was $0.05, 200 contracts.

I watched as this order took 1 minute 40 seconds to execute!

Received this response from IB (in addition to Samaritan's PM & assistance):

" I have investigated the execution that you are referring to and
have found the following information. The .05 price that was trading at the time your order was submitted was not trading electronically with the specialist but was being manually quoted and traded in the crowd. As a result of this, the order
was filled manually as opposed to being electronically matched. This requires additional time in fill reporting but was necessary in order to fill your order."

This sounds very reasonable. I've recently begun trading the OEX and SPX options and have had the same experience ... guess it is a CBOE floor-trading phenomenon.

Thanks to Matthew and Samaritan at IB for the fine response. Guess I learned something ...