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Is IB designed to just feed liquidity to Timber Hill?
- Thread starter jonnysharp
- Start date
Quote from newwurldmn:
Out of curiousity why would you want this? Would you get better execution this way?
nwwurlmn, you routinely insert yourself into IB discussion threads despite the fact that you recently acknowledged that you don't use IB because you don't like their auto liquidation policy nor their customer service.
You made an informed choice whether or not to use IB. Please let others do the same.
Quote from newwurldmn:
Out of curiousity why would you want this? Would you get better execution this way?
Depends on what they charge me. Let's say TH offered commission-free trades to hit their venue, I would be hitting them all the time, even at a short-term disadvantage / inefficient price (conceding profit to their market making desk), particularly if my hold time was much longer. Or if TH let me cross with other customers for cheaper, I'd be interested.
It's really a function of cost and hold time.
Quote from clearinghouse:
Depends on what they charge me. Let's say TH offered commission-free trades to hit their venue, I would be hitting them all the time, even at a short-term disadvantage / inefficient price (conceding profit to their market making desk), particularly if my hold time was much longer. Or if TH let me cross with other customers for cheaper, I'd be interested.
It's really a function of cost and hold time.
Interesting idea.
RE: Crossing with other customers
I don't think they are allowed to solicit their customer flow to other customers. At least my broker doesn't allow it, but that could be a business decision rather than a regulatory one.
Quote from newwurldmn:
Interesting idea.
RE: Crossing with other customers
I don't think they are allowed to solicit their customer flow to other customers. At least my broker doesn't allow it, but that could be a business decision rather than a regulatory one.
Some prop firms allow it if you specify it as part of your routing instructions.
Quote from clearinghouse:
Some prop firms allow it if you specify it as part of your routing instructions.
I remember RealTick allowed us to route to either the Lehman institutional desk or their electronic market making desk (competitor to timberhill). But that wasn't in a retail setting.
And perhaps they shoudl give you a choice of a "smart without TH" so if someone dosent want to deal with TH they should have the choice as well. Makes sense?Quote from clearinghouse:
Bingo. I want the choice. Bring back TH with choice.
It's not like you guys (IB) have that much to lose with offering us a TH route if it's by choice.