New IB Commissions for High Volume Stock Traders

I expect it depends on what the stop turns into when elected.

If it's a plain stop (i.e. stop market), it will most likely remove liquidity, since it becomes a market order that will get routed to whoever is displaying the best auto-ex bid/offer.

If it's a stop-limit, and the resulting order is marketable, it's the same as the stop-market scenario. If it's not marketable, and gets posted to an ECN, it will add liquidity when/if someone hits/takes it.
 
r-in, alanm, according to IB's web-site:
"FOK, AON, MOL, MOC, Stop, Stop-Limit orders are always charged at this rebate regardless of size or time on books."
 
i'm sure its generates a charge as its not a limit order providing liquidity. but thats a good question and it might depend were the order goes off. if it goes off at the ask or in between on a sell it adds. if it goes off at the bid it takes liauidity and its a charge
 
okay a clarification please....

i want to try out IB's unbundled rates and wanted to know exactly when liquidity is added or taken away.

If i put in any limit order i add liquidity and if i use any mkt order i take away :confused:

thanks
 
Quote from Moreagr:

okay a clarification please....

i want to try out IB's unbundled rates and wanted to know exactly when liquidity is added or taken away.

If i put in any limit order i add liquidity and if i use any mkt order i take away :confused:

thanks
More...

If you place a marketable (i.e. immediately executable order), then you are taking liquidity. e.g. the market bid is 37.00 and the market ask is 37.02; if you submit a market order to buy, or a limit order to buy w/ a price of 37.02 or higher, then you are taking liquidity.

The orders that add liquidity are usually the ones that don't immediately execute, i.e. they get displayed in the NBBO.
 
for naz trader who trades swing trades the unbundled rate is good becasue of the rebates. but anyone trading aapl or good with the big sec fee's and fast moving stocks should just trade with the all in. these stocks move so fast you screw yourself up trying to add liquidity
 
With unbundled, if you use SMART routing, you don't know what your commision will be, because it depends on where it decides to route your order?

(Assuming you are taking away liquidity)
 
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