Interesting fact about IB

T

tao_trader

Fact: IB has no Nasdaq composite quotes.

They've got the dow, the s&p500, the nasdaq 100 and hundreds more, but no nasdaq composite.

And I'm not talking about free quotes, they just simply don't have the nasdaq composite for _any_ price.

A Level I Nasdaq non-professional subscription will get you no quotes.

A Level I Nasdaq professional subscription ($20/mo) will get you no quotes.

And a Level II Nasdaq subscription ($79/mo) will also get you no quotes.


I just knew there was something about IB that was too good to be true. Any other surprises waiting out there for me?
 
Should they have that? Why? are they in the business of being a quote provider. That index is not tradeable. Use the NDX which is traded through many vehicles at IB.

Do traders really follow the nasdaq composite? just curious, I never do? just NDX for nasdaq.
 
Quote from tao_trader:

Fact: IB has no Nasdaq composite quotes.

They've got the dow, the s&p500, the nasdaq 100 and hundreds more, but no nasdaq composite.

And I'm not talking about free quotes, they just simply don't have the nasdaq composite for _any_ price.

A Level I Nasdaq non-professional subscription will get you no quotes.

A Level I Nasdaq professional subscription ($20/mo) will get you no quotes.

And a Level II Nasdaq subscription ($79/mo) will also get you no quotes.


I just knew there was something about IB that was too good to be true. Any other surprises waiting out there for me?
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Quote from m_c_a98:

Should they have that?

Probably.

Why?

Customer satisfaction.

are they in the business of being a quote provider.

They got themselves in the business when they started charging monthly data fees.

That index is not tradeable.

Just because it's not tradeable doesn't mean it's useless.

Use the NDX which is traded through many vehicles at IB.

The ndx is not the same as the composite. If it were so, only one would exist.

Do traders really follow the nasdaq composite? just curious, I never do? just NDX for nasdaq.

Yes, I think it's a safe assumption that some traders follow the nasdaq composite.
 
Quote from illiquid:

People actually trade using IB w/o a separate quote provider? :)
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IB _is_ a quote provider.

In fact, some people have an account with them just for the quotes.

Name one real-time quote provider that even comes close to IB's $10/month market data.
 
Quote from tao_trader:



are they in the business of being a quote provider.
They got themselves in the business when they started charging monthly data fees.



You're wrong about this. IB is not in the business of being a quote provider. Data fees are passed to a given exchange for disseminating their quotes. IB charges 10 bucks a month for all US stocks, futures and options for those doing under $30 a month in commission. For those doing more than that, IB eats the cost - it is free. There are fees to the NYSE, OPRA, NASDAQ, CBOE, CBOT, etc. Which one of these provides the COMP? Someone has to calculate and disseminate it and pay licensing fees if appropriate. Would you prefer that IB doesn't provide the rebate and provide the COMP, trin and tick?

FWIW, There are issues that make disseminating an index not so cut and dry. There is no way that IB is going to be able to be all things to all people. If it was a simple matter, it would have been added. In any event, I for one believe that if you are going to actively trade you should have a secondary quote source.

---- And for people who are solely using IB for quotes ----> you convinced me that we definately shouldn't offer such services. All they do is drain resources from those that actively trade.
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Quote from tao_trader:



IB _is_ a quote provider.

In fact, some people have an account with them just for the quotes.

Name one real-time quote provider that even comes close to IB's $10/month market data.
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IB may or may not be quote provider but if this is true, then they are the only broker that I know that doesn't provide those quotes. All the professional firms I've ever had an account with do provide it.
 
No COMP quotes? who cares?, that's a lot of fuss about nothing. EOD COMP is all you need, intraday, people use NQ Q's or NDX.
 
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