Not even the top of book for ARCA without paying

[Don Bright]

Quote from stock777:

Nope. Should be illegal. They should have been forced to supply at least Level 1 to the public for free.

Suggest all not use arca to trade if at all possible. Maybe if thier volume drops 50% (fat chance) they will reconsider.

Doubtful that ARCA volume will drop...especially since we are moving all of our "resting" orders over there to collect liquidity rebates soon (not just "us" as in Bright, but "us" as in most prop traders). Take liquidity from NYSE, park on ARCA (at least that's the way it seems at this point).

FWIW, we're still sorting out the fees with Goldman and the NYSE as well...

Don

 

[Avid_Consumer]

what a pile of steaming shit. arca fees are apparently the new welfare real traders are expected to pay the NYSE as the specialist goes away


Steve IB - so smart may still route to arca, but if the nbbo is on arca, does it appear in an IB smart quote?

 

[jimrockford]

NYSE bought ARCA because, like any profit-seeking, government-supported monopoly, NYSE wants to eliminate what it sees as the greatest of all evils: competition and free markets. ARCA would never have done this while it was competing with NYSE, prior to the NYSE purchase of ARCA, because it would have made ARCA less competitive. The NYSE purchase of ARCA reduces competition, and so, it allows NYSE to get back a little bit closer to business as usual.

I suspect this is only the beginning. I suspect NYSE is merely testing the waters. If they get away with this, I would expect to see more substantial policy changes, designed to transfer wealth from your pockets to theirs.

 

[Bob111]

Quote from range:

Just a "welcome" gift from the newly public NYSE. IB csr says it changed yesterday afternoon. I don't remember any prior notification. Maybe I missed it.

it been for weeks. i submit ticket to Ib and unstead of simple answer i got dumb question back about what version of TWS i was using.
IB data worth exaclty what we are paying for it. no accurate volume, no last. sometimes i have to double check prices with MB,before placing order.
feel like we are going backwards with all those recent ECN mergers.

 

[jimrockford]

Quote from stock777:

Nope. Should be illegal. They should have been forced to supply at least Level 1 to the public for free.

Suggest all not use arca to trade if at all possible. Maybe if thier volume drops 50% (fat chance) they will reconsider.

This is exactly what NYSE and ARCA want. They want you to route to the specialist at NYSE, instead of ARCA, so that the specialist and floor traders can steal considerably more from you, in processing your orders manually, than NYSE can make from your ARCA data fees.

 

[Bob111]

question to IB-if i have no subscription for arca-what about high\low for day on TWS? if highest\lowest trade was executed on arca. no accurate high\low too?

 

[mskl]

FYI, FOR IB: I subscribed to the ARCA data yesterday and I'm still not getting any data this AM.

 

[sprstpd]

Quote from stock777:

IB now getting 10 bucks a month for ANY ARCA quotes.

Sucks.

Is certainly a pile isn't it? With ARCA and INET both closing down access to market data simultaneously, makes you think the fix is in. When will I start having to pay $100/month to see the INET book? Probably in a month.

There is a nice oppportunity here for someone else to step into what ARCA and INET used to be.

Screw'em.

 

[BSAM]

Quote from stock777:

IB now getting 10 bucks a month for ANY ARCA quotes.

Sucks.

Was wondering how long it would take before this thread came up. The U.S. financial mafia (a.k.a. NYSE) strikes again.

 

[eusdaiki]

there´s more. Starting somewhere in october {as soon as we get the single book} NYSE traders will have to pay the whole NASDAQ entitlement in order to see ISB... that´s an extra $100 for yall!