IB's Screwed Up Quotes

I have been comparing IB quotes to RealTick for more than 3 years, even back before there was TWS. I do not know what RealTick does different from IB; But, the ECN quotes show up correct on RealTick Level 2 window at the same times that IB has these same ECN quotes all screwed up. Now RealTick is doing something different, but what. More than a year ago I suggested to IB staff assigned to correct this problem, that IB could correct the problem by getting their quotes through Townsend Analytics; but, IB told me IB gets their quote information from each of the ECNs and was not going to get their quotes from Townsend Analytics. IB's tech staff did talk to Townsend Analytics at that time and IB told me that Townsend Analytics did not want to work with the way IB wanted to do things. It seemed IB wanted to do something more than just get quote information. IB's quote servers are different from IB's order servers. IB just needs to correct their quotes problem. IB's order servers for the most part do OK provided you know what price to enter your order. So, we still have the problem and when the market volume really cranks up, we will have this problem. So, when we get a great volume day to try and trade and make a few bucks, we can expect not to effectively trade through TWS (count on it). During the last three years, I have wrote several time to IB's management and IB's staff has read many of our Post on this problem and still IB has not fixed this problem. What else can we do?

Catoosa
 
Quote from nitro:

Only equties seem affected - both NAZ and NYSE. ES/NQ seem ok.
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Options on $SOX is just a desaster today and it looks like something really crashed. TWS bulletin says something about hardware failure affecting options trading.

:(
 
Quote from CarlErikson:



If past experience is any indication, ARCA has several quote connections and apparently RealTick gets the good ones, and IB gets access to less quality connections. If I were to guess, I would guess that ARCA is the source of the problem, not IB. If IB were so bad, why don't the Island and Instinet quotes get messed up routinely too?

IB needs to be able to shut down quotes from specific ECNs on a moment's notice though. Today is ridiculous. I really despise ARCA - it is pathetic.

Carl
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Realtick and ARCA used to be the same company, dunno if they still are.

My guess is that Realtick has filtered B/A quotes, or like you said, a better connection to ARCA, but I think that the former is more likely.

I don't want my quotes filtered, because there are times when I can easily pick off crossed ECN markets, which is my guess as to why IB doesn't filter them.

ARCA (and today ISLD -- but I can't remember the last time ISLD was screwed up) is the problem.
 
Quote from bungrider:




Realtick and ARCA used to be the same company, dunno if they still are.

My guess is that Realtick has filtered B/A quotes, or like you said, a better connection to ARCA, but I think that the former is more likely.

I don't want my quotes filtered, because there are times when I can easily pick off crossed ECN markets, which is my guess as to why IB doesn't filter them.

ARCA (and today ISLD -- but I can't remember the last time ISLD was screwed up) is the problem.
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I think Townsend Analytics is still the main principal of ARCA.

When the TWS quotes for a symbol are screwed up in a fast moving market, I have learned the hard way not to hit what is displayed as a crossed ECN quote on TWS or the TWS SMART quote on the same side of the market for the effected symbol. The quote is almost always wrong and my order will likely lock on TWS, turn pink, stay pink, and I can not cancel the order. I may not find out for hours to as much as 3 days as to whether the order was filled (this is a whole different story). I seldom get the chance to make any money from a crossed market and do not figure that in as one of trading strategies. I can only count on making money by getting on the right side of the market at the right time and I need current accurate quotes in my trading platform to try and pull it off.

filtered or not, I can expect RealTick ECN quotes to be correct and I can expect them to be honored if I am fast enough with my order entry.

Catoosa
 
Quote from Catoosa:

It never fails: When there is breaking news and the market trade volume takes off, IB's equity quotes get all screwed up and are unusable. I have been using IB for more than 3 years and this problem has never been corrected.
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Must not be a real serious problem for you, eh? 3 years you've been putting up with this problem? LOL. You do realize there are other brokers out there, no?
 
Quote from Quah:



Must not be a real serious problem for you, eh? 3 years you've been putting up with this problem? LOL. You do realize there are other brokers out there, no?
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Quah,
Your cheap shot missed the mark. I do have several accounts and have used many in my 31 years of trading; However, for the more than 3 years IB has been the best of all worlds when IB's quotes are not screwed up in a fast moving market. But, when the quotes are screwed up, I can forget TWS and trade on the next best trading platform. I keep hoping IB will get it right; So, I will not do as you suggest. You must not have been trying to trade MSFT, LLTC, or other high volume equity on TWS this morning.

5RO8Astang:
You would be making a mistake to not open an account with IB. Just do not expect IB, as with any other broker, to be perfect. IB is by far the best.

Catoosa
 
Thanks for your encouragement. It appears that the vast majority of comments at ET are in favor of IB. As a beginning trader, I think the per-share commission schedule is the WTG. If the comments on lightning-fast executions hold true 95% of the time, I'd still think it's a good package.

Thanks again :)
 
Quote from 5R08Astang:

Thanks for your encouragement. It appears that the vast majority of comments at ET are in favor of IB. As a beginning trader, I think the per-share commission schedule is the WTG. If the comments on lightning-fast executions hold true 95% of the time, I'd still think it's a good package.

Thanks again :)
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I would put IB's executions on equities at more like 99.99%. The execution servers will work even when their is the rare problem with quotes. You just need to know the price at which to enter your order. IB's commissions are the best and in my opinion there is not another trading platform that is even a close second to TWS. If a quote problem shows up on a equity symbol, it will be on a stock that the trade volume is near the most active for the day when some market moving new has been released which should not happen to you very often. However, I think you can understand traders frustrations when it happens to the stock they are trading. If IB users do not complain when IB has a problem, IB would not put a real effort into correcting the problem.

I hope for the best with your trading and I think you will have an IB account for years.

Have a great weekend,
Catoosa
 
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