I just tested again and they're still not triggering for me in my production account. Do you want to PM your email address so I can send you details?
Retail routing to IEX exchange
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I just tested again and they're still not triggering for me in my production account. Do you want to PM your email address so I can send you details?
I know you mentioned that TWS version shouldn't matter, but for the sake of completeness, I upgraded to latest TWS and tried these again today...still not triggering/executing (in live account).
Okay, we found the problem. Your orders were not triggering due to their having a manually specified Trigger Method. The problem has been fixed. As of today, it is in limited release and should work for you. The full rollout will take about two weeks.
Thank you for your assistance in trouble-shooting this issue.
Thank you for your assistance in trouble-shooting this issue.
Pete- I just tried again and still no luck. Do I need to do something in order to access the limited release? Also, will the limited release work on orders submitted via API?
Was updated this morning that the fix is expected to be implemented by end of next week. Have to give IB/Pete credit on this - been very responsive throughout.
@IBsoft: I have been thinking about this ever since your post. If IB routs my non-marketable order to IEX, and the order subsequently becomes marketable, IEX is then required by Reg NMS to rout it out. Correct? That's what I am looking for.
I am a retail trader and a liquidity taker. I see no benefit in having my non-marketable orders displayed on the NBBO. Having my order sit in a dark pool (non-display) is fine with me.
I have noticed in reviewing my blotter, I am getting large numbers of fills at tiny fractions of a cent better than the NBBO at the time of order placement. The price improvement totals to a few cents to a few dollar per year. But I am also noticing more and more that I am missing trades, not getting fills. I would rather get my orders filed than get an insignificant price improvement.
It seems to me in the end, the key question is: Who has the better smart router, IB or IEX? Plus, how do we define better?
I am trying to get a better understanding of market microstructure in preparation for IB's upcoming webinar.
May have been too quick to praise IB on this one; coming up on three months and it's still not fixed (despite several claims that it was). While not directly responsible, Pete seems to be the only one willing to take ownership of the issue. He's pushing internally, I will update here when something changes. I know from the IEX webinar that others were having the same issue.