If your brokerage is the counterparty to your trades...

[ak15]

Quote from traderNik:

If this is true, I'd be interested to see the proof. Couldn't you prove this by citing the audit trail?

I can do that. I'll PM you a copy of my audit trail next week proving exactly what I've been saying. To wit: IB is more interested in earning rebates than filling customers orders. I am not going to repeat myself. You can refer back to my earier example. The audit trail will justify what I've been saying. I'll just have to make sure that I protect my privacy .Once I do that I'll PM you the required. Again I'm referring strictly to stocks and not any other instrument.

As mentioned earlier, the only reason I won't be able to do it is if IB changes its routing algorithm which I don't believe it (IB) will do.

 

[ak15]

I'll qualify that statement by saying - Rebates are priiority followed by the fill itself.

 

[ak15]

Quote from traderNik:

If this is true, I'd be interested to see the proof. Couldn't you prove this by citing the audit trail?

I have no problem in furnishing the audit trail. However, it won't tell you the entire story. It will tell you at what price the order was accepted by the particular venue and at what price it was executed. It won't tell you what the inside bid or offer - whichever applies - was at that particular point in time.

The easiest way is to try it out yourself. Try to hit the inside bid or offer after making sure there are enough shares avialable to fill your order and see what happens.

 

[ak15]

Also make sure that you don't go by IB"s leve II. It lags most of the time and has stuck quotes. You should have access to a level II that is flowing freely and accurately showing you the best bids and offers being posted and lifted along with the Time and sales information completing and complementing the above information.

 

[FanOfFridays]

Quote from ak15:

I can do that. I'll PM you a copy of my audit trail next week proving exactly what I've been saying. .

Thanks, I'd appreciate that. I'll wait for your PM.

Nik

 

[ak15]

Quote from traderNik:

Thanks, I'd appreciate that. I'll wait for your PM.

Nik

I would suggest trying it out yourself. Then let me know and I'll PM you the audit trail. As mentioned earlier it won't tell the entire story but I will keep to my word if you don't find out for yourself. You'll be saving me time and effort.

 

[def]

Quote from ak15:

I'll qualify that statement by saying - Rebates are priiority followed by the fill itself.

Wrong again. Rebates are not a priority. The fill is. If you really think that, switch to the unbundled plan and keep any rebate earned.

I'm certain if you place a limit order the price sent IMMEDIATELY to the exchange is the same price you entered. The lone exception would be for short sales where if there is a downtick rule, the price would be modified to a legal order.

 

[ak15]

Quote from def:

Wrong again. Rebates are not a priority. The fill is. If you really think that, switch to the unbundled plan and keep any rebate earned.

I'm certain if you place a limit order the price sent IMMEDIATELY to the exchange is the same price you entered. The lone exception would be for short sales where if there is a downtick rule, the price would be modified to a legal order.

The price filled is greater by a penny than the price I entered or sent to the exchange. You can say I'm wrong all you want. Let people find out for themselves.

 

[def]

Quote from ak15:

The price filled is greater by a penny than the price I entered or sent to the exchange. You ca say I'm wrong all you want. Let people find out for themselves.

show the proof. i highly doubt that if it is a limit order to purchase stock. If a sale, I'd understand as you'd be getting price improvement.

We've got a ton of IB clients on this board and suspect we'd be hearing from others if this was occurring. I'm also making myself available to review your audit trail.

 

[hottpotat0]

i saw FRONTRUNNING all the time with Scottrade elite but i think with larger orders that i placed scottrade would go contrary by using the options mkt CBOE MM to move a stock against my trade-that is the MM job is to create a market and the specialists job is to make money for what ever stock the are selling/buying for so they aalmost always are contrary to retail-furthermore the specialist/MM gets level Three quotes -only pros get that input-detecting flow direction and intention is how they make so much money-one last thing retail buyer seller is a different color code on level II quote screen so one can tell how involved retail is in a stock and base major strategies on this info AGAINST RETAIL in order to get our money-why else would a MM be able to short sell a stock to infinity when no one that owns the stock is wiling to sell just to create a market -where the MM make money off the spread???
in reality if there are no offers on the ask side a stock should move up in price rapidly until someone wants to sellor vice versa on the bid side -specialist creates false buying pressure or selling pressure just to take money out of the market for firm-also kick back to company o wners from routing orders a certain way!
ITS ALL ROBBERY
all should know their dirty tricks!!