why IB is not showing the true size?

Quote from Bob111:

i.....mmmm...let's just say i disagree..read my example above...you have to unload 1000 shares on not very liquid stock..your broker shows you that there is only one buyer for 100 shares at 7.77... it is MAYBE(and it's very big maybe),like you said, hidden order with 10000 on buy side, or it may be true 100 for real. now when you shoot yours 1000 shares order to exchange-everyone will see it and believe me-they will fuck you up big time,once you expose yourself. this is only one and very important reason to see real cumulative size on bid and ask. to having ability at least "estimate" the liquidity when you enter AND exit..
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But your broker should let you place an "iceberg" order, for 1000 but showing 100 at a time.
 
Quote from doli:

The size numbers are usually meaningless. A broker can show 100 at the top and can refresh its bid/ask if the 100 are taken. Its just a "look here at my left hand, while I pick your pocket with my right hand" routine. Don't believe the size.
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I agree that hidden orders are common. But if I put out a LMT for 500 shares on SMART at the inside, it seems as if TWS should show at least 500. But that's not always the case as i've seen TWS show less than 500 in that situation.
 
ibbad.jpg



RST today.

On the upper left is the Ameritrade L2 feed.

Just below is is the IB L1 feed, which is correct. (via the API)


But look at the TWS, it shows only 100 for the size on the bid and ask .

All symbols set to SMART so this is not good.

Happens all the time, and has been a problem for quite a while.
 
I can see everyone is impressed with the fact that the quotes are wrong.

More proof there are only 3 1/2 traders on ET.
 
While many of us use IB for execution I don't know any traders that use their quotes to trade off of.

IB quotes are good as backup, but other than globex, they are just not reliable.
 
i think IB is picking only one of the destinations (usually the largest size) and shows it under the smart routing.

as mentioned above, IB sucks when it comes to market data - and likely is one of the worse in the industry...

i agree with bob - the cumulative should be shown for smart.
 
Quote from vikana:

While many of us use IB for execution I don't know any traders that use their quotes to trade off of.

IB quotes are good as backup, but other than globex, they are just not reliable.
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Actually they are fine for all of the Nikkei futures, HSI, STW, and the european futures.

If one cared about bid/ask volume or tick counts you might call them unreliable but the combination of real time data and 5 second (true) data is both reliable and accurate (With Sierra Chart the 5 second data can be used to correct any high low errors in the real time output).
 
Quote from kiwi_trader:

Actually they are fine for all of the Nikkei futures, HSI, STW, and the european futures.

If one cared about bid/ask volume or tick counts you might call them unreliable but the combination of real time data and 5 second (true) data is both reliable and accurate (With Sierra Chart the 5 second data can be used to correct any high low errors in the real time output).
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That 5 second (true) data is 5 second (DELAYED) data, if you're looking at the chart.
 
Quote from vikana:

While many of us use IB for execution I don't know any traders that use their quotes to trade off of.

IB quotes are good as backup, but other than globex, they are just not reliable.
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I don't know where you get that. Other than the anomalies we're highlighting here, IB quotes are among the most reliable and the fastest.

Of there many thousands of customers, do you really think no one is trading off the prices? Let's not get carried away.

The problems are likely programming bugs that simply are going unaddressed.
 
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