And this is particularly stupid given that hitting the mid-point is basically *normal* in FOPs. There are quite a few times I've been insta-filled right at midpoint, so for IB to hold back smart orders because they're not hitting the bid/ask is stupid. I mean what's the point of that anyway? What possible purpose does SMART routing have here when "marketability" has nothing to do with whether I hit the bid or lift the offer. On top of that, not hitting either means I'm providing liquidity and not taking it.
IB TWS - Complex (Multi-Leg) Positions Setting Disappointment
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And this is particularly stupid given that hitting the mid-point is basically *normal* in FOPs. There are quite a few times I've been insta-filled right at midpoint, so for IB to hold back smart orders because they're not hitting the bid/ask is stupid. I mean what's the point of that anyway? What possible purpose does SMART routing have here when "marketability" has nothing to do with whether I hit the bid or lift the offer. On top of that, not hitting either means I'm providing liquidity and not taking it.
I am looking for older versions of TWS too. However the link you provided got the following error:
"Unfortunately, the page you are looking for is no longer available."
Do you happen to have the new link?
I can understand your problem, especially if it is a non-guaranteed combo order. In fact, IB will wait until the posted bid or offer to hit pass your limit price, not just meet your limit price. I have many encounters where the order just sitting there despite the bid/offer meet my limit order. This is what IB's reply:It won’t reject or throw an error, the order just sits on IB servers and not the exchanges. If something for example is 20 bid and 26 offer and you place an order at midpoint (23) IB will wait until either the posted bid or offer (depending on buy or sell order) shows 23 and its hit.
The native order goes right to the book, so that 23 can (if you’re lucky) get executed instantly or becomes the new posted bid or offer (again depending on buy or sell order).
When you send your SMART order, with a bid-offer spread of 4-6 ticks and its inside this does it actually show your price as the new bid or offer, or does it just get accepted and filled when the market moves to reach it?
I would be able to answer that question myself if the market wasn’t closed now – stupid market
Please note that the condition for legging in a non-guaranteed combo order is the limit price must be at least 1 tick though the implied quotes. Since your order was just hitting (not through) the bid price, the combo order was not submitted. Please let us know if you have any further questions. Thank you.Regards,IB Customer Service
I even encountered only 1 leg is filled, not the two legs in my spread. I have chase after the other leg in order to get the price of spread that I want.
Unfortunately I don’t and it took me a long time to find that one, perhaps I wasn’t supposed to find it to begin with.
I wonder if NinjaTrader would re-host that page, it could be considered a “public service” for the IB trading community.
I think if you do the smart route, they will assume the losses if only one leg fills on your order.
No. They don't. This is their reply:
This is an non-guarantee option combo order which is not guaranteed to be executed proportionally to the required leg ratio although every effort is made to execute the order that way. As each option leg was routed to exchange separately, you may receive an execution on one side of the combo option leg.
I've got a 939 exe file sitting on my hard drive from 2014. Not sure if it's 939.5c, but you are welcome to it if you want.
I'm not sure if it will run for you. I was forced to upgrade the 939 as they de-supported it in the last few months. I got 960 and there were some hiccups. I started running 960 on the home machine and still had a 940's version on my laptop. When I ran the 960, something changed in some sort of profile somewhere...no idea what happened. Then when I tried to submit a basic butterfly in the 940's version, TWS would never accept it. I would get the "not a guaranteed combo" message and the order was rejected. IB couldn't figure it out and eventually the solution was to upgrade the laptop to 960 as well...and that fixed the issue.
Overall I like the new setup, but it takes some getting used to.