who did this?

T

trend2009

I have 100 shares of SGU to sell on ask. somebody bought this 100 shares in 100 orders, each order is only 1 share. with each order of 1 share, I paid 0.09 cent commission. so in the end, the commission is 9 dollars instead of 0.2 dollars if the 100 share was sold in one order. how much commission did the guy have to pay? is it due to broker's 0 commission so that he can send 1 share order? is there a way in IB API order attribute to specify the minimum quantity to fill for each order?
 
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Whose the broker? Never seen a brokerage charge like that. Usually say it’s a limit order, it’s charged a lot fee or per share.

If it’s per order they generally charge once if the order is partially executed or all. Only time you’d get charged is if you change a partially filled order .
 
trend2009 said:
I modified the order each time it is partially filled.
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I'm not sure you can get what you're after if that's the case. If you'd just left the order most brokers would only charge you one commission regardless of the number of orders it took to fill. If you designate all or none, which is also possible with most brokers, you don't get to change your order between 1 share fills and it's very possible you wouldn't have had any fills if the seller was only putting out orders for 1 ata time. Either way, if you want one commission you can't also have the luxury of changing your order between fills.
 
Sig said:
I'm not sure you can get what you're after if that's the case. If you'd just left the order most brokers would only charge you one commission regardless of the number of orders it took to fill. If you designate all or none, which is also possible with most brokers, you don't get to change your order between 1 share fills and it's very possible you wouldn't have had any fills if the seller was only putting out orders for 1 ata time. Either way, if you want one commission you can't also have the luxury of changing your order between fills.
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is it possible to specify the minimum quantity each fill has to be in ib api?
 
trend2009 said:
I have 100 shares of SGU to sell on ask. somebody bought this 100 shares in 100 orders, each order is only 1 share. with each order of 1 share, I paid 0.09 cent commission. so in the end, the commission is 9 dollars instead of 0.2 dollars if the 100 share was sold in one order. how much commission did the guy have to pay? is it due to broker's 0 commission so that he can send 1 share order? is there a way in IB API order attribute to specify the minimum quantity to fill for each order?
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%%
Any good broker has AON;
but not liquid 266k average day volume,or much less volume, could get a fill of ''none'' also. NOT sure why you are paying anything --unless that's a sec fee?? And with plenty of 22 k volume days; better allow for some big slippage % with that SGU, if you trade it enough.:cool::cool:, :cool::cool::cool::cool::cool::cool::cool: Nice dividend=5.3%
 
Basically you were getting pinged by a market making/ HfT algo to see if you were a real order or another algo. If it hit your order for 1 and it disappears and widens on the ask, then it knows your most likely not a retail order hanging out.
 
Next time if happened just leave the order as is than you will be charged same as 100 shrs printed 1 time
For example if you sell 100 shrs and got filled 5, 5, 90 shrs the fee should be the same as 100 shrs
 
Metamega said:
Basically you were getting pinged by a market making/ HfT algo to see if you were a real order or another algo. If it hit your order for 1 and it disappears and widens on the ask, then it knows your most likely not a retail order hanging out.
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Very cool. Unrelated to thread, but curious - what would the HRT algo do if it bought one share and order was pulled because it was in fact another algo? Then proceed to place a sell at the now higher ask price? Thanks!
 
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