IB TWS API delayed order submission

[roca]

you send MKT orders that way? not smart IMO, try LIMIT orders instead, MKT is always the roulette and you always get hit at the worst bid/ask depending on your order side

No I send LIMIT orders

 

[roca]

I am running an automated trading system since a couple of years. Seeing about one second of delay between me sending an order and IB sending a confirmation that the order has been submitted to the exchange is pretty normal.
When IB sends you a message that the order has been submitted multiple steps have been taken. Your Gateway has sent it to IB. IB has verified that you are allowed to place this order. IB has sent the order to the exchange(s). IB has received a confirmation that the order has arrived at the exchange. IB informs you that the order has been submitted.
This entire procedure is much more than just the ping time from your computer to IB's server.

I see, it is weird because if I submit the order in TWS it gets submitted instantly

 

[Butterfly]

I see, it is weird because if I submit the order in TWS it gets submitted instantly

the UI gives you immediate feedback, but it takes time to be routed into their "SMART" routing algo

 

[Butterfly]

No I send LIMIT orders

it's not a LIMIT order if it gets filled at a worst price you expected, or maybe you were not clear in your explanation

 

[roca]

the UI gives you immediate feedback, but it takes time to be routed into their "SMART" routing algo

what do you mean UI?

 

[roca]

it's not a LIMIT order if it gets filled at a worst price you expected, or maybe you were not clear in your explanation

it is because there is a delay in submitting the order that I get a worse price.

 

[HobbyTrading]

what do you mean UI?

User Interface. All the nice shiny bells, whistles and graphs on your TWS screen.

 

[roca]

User Interface. All the nice shiny bells, whistles and graphs on your TWS screen.

ok so you mean it gives the illusion it is submitted instantly but its not?

 

[HobbyTrading]

ok so you mean it gives the illusion it is submitted instantly but its not?

I don't know. I never use TWS. It could be that TWS tells you when it has sent your order to IB's servers, which may seem instantaneous to you. And not inform you about the steps afterwards. The steps afterwards can be seen by the color coding that is used in TWS: there's a little symbol in front of the order line and its color can change to indicate a change in status. I don't know further details about it.

 

[roca]

I don't know. I never use TWS. It could be that TWS tells you when it has sent your order to IB's servers, which may seem instantaneous to you. And not inform you about the steps afterwards. The steps afterwards can be seen by the color coding that is used in TWS: there's a little symbol in front of the order line and its color can change to indicate a change in status. I don't know further details about it.

ok I see. Thanks a lot