New IB Commissions for High Volume Stock Traders

pairsarb


Registered: Sep 2005
Posts: 29


01-03-06 02:56 AM

Quote from joeyata1:

nobody i've seen breaks out ecn charges or rebates. one has to trust the broker as it just shows your net commissions



Wow...thats comforting.(response by pairsarb)

what you should learn is that people on ET post with incomplete knowledge.
this joeyataya1 made a truthful statement" nobody i've seen......" you should not have made any kind of assumption of how many statements joey saw. either ask or assume limited knowledge by the writer.
 
This was somewhat covered, but going to ask again to see if I understand. If I use smart routing and I use limit order to get in and a limit for profit target or a stop in the market before the price trades I would get a credit from the particular ECN that fills the order?
Ex: SMH b/a 41/41.01 I put limit to buy at 40.98 and fill
SMH put in profit tgt limit to sell 41.10 and a stop at 40.88 right after the original order filled. Cancel other order when either tgt or stp is hit.
Would this be a net credit situation?
Thanks
 
Okay a few questions. What is "CAES"? There doesn't seem to be a fee schedule on the website. Same thing for "AEB". I have never even heard of "AEB". What about track? I have tried a bunch of symbols but it doesn't come up for any of them.(I think I might have the track/CAES mystery figured out but would like clarification).
 
Quote from zf trader:

Okay a few questions. What is "CAES"? There doesn't seem to be a fee schedule on the website. Same thing for "AEB". I have never even heard of "AEB". What about track? I have tried a bunch of symbols but it doesn't come up for any of them.(I think I might have the track/CAES mystery figured out but would like clarification).
More...

AEB= Euronext Netherlands
CAES = Nasdaq's Computer Assisted Execution System,
TRACK is an ECN
 
Quote from def:

If you don't use SMART, yes we will pass on exchange charges. If you do, SMART will handle the cancel/replace and there will be no fee.
More...



Steve or Def,

For limit orders on NYSE listed that take longer than 5 mins to execute:

* if I route SMART, will I lose my place in line with the automated cancel/replace, and

* if I route direct to NYSE, will I preserve my place?

In other words, will I avoid the automated cancel replace for NYSE by routing direct in those cases where position is more important than the fee?

Thanks.
 
Quote from One:

Steve or Def,

For limit orders on NYSE listed that take longer than 5 mins to execute:

* if I route SMART, will I lose my place in line with the automated cancel/replace, and

* if I route direct to NYSE, will I preserve my place?

In other words, will I avoid the automated cancel replace for NYSE by routing direct in those cases where position is more important than the fee?

Thanks.
More...

Available in TWS 855+
"You can now check Preserve Time Priority from the Miscellaneous tab on the Order Ticket to maintain time priority for orders, currently including those on NYSE, that might otherwise be cancelled and re-submitted periodically."
 
Quote from Steve_IB:

Available in TWS 855+
"You can now check Preserve Time Priority from the Miscellaneous tab on the Order Ticket to maintain time priority for orders, currently including those on NYSE, that might otherwise be cancelled and re-submitted periodically."
More...


Thanks Steve. Does that apply to both Smart and orders routed directly to NYSE, and if so, will the 5 min fee apply in both cases when this option is selected?
 
Steve or def,

I want you to clarify what One said above.

If I don't check the preserve button (I think I use an older version of TWS), I would not pay $0.01 fee for BOTH smart and NYSE direct orders even though my limit orders stay over 5 minutes because my orders will be regularly canceled and resubmitted, right?

Thanks.

ggoom
 
Under Unbundled pricing, does IB still charge:

1. API fees for Non-Smart Routed API orders?
2. Minimum per Order charge of $1?
3. Maximum per Order charge of .2% of trade value?

Thanks.
 
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