For NYSE listed stocks like BAC, etc...when I specify ARCA for the exchange, order status says "order is being held and monitored", instead of "active". This if for limit orders placed before the open, and yes I have pre-open reroute checked in TWS. So is there any way to participate in the ARCA opening cross ? If not, does a limit order active on the NYSE before the open, can be rerouted to other ECNs by IB after the open if it has not been filled yet.
What's wrong with OPG in the TIF field and route as SMART - that will be converted to ARCA when it becomes active and you're in the auction.
With route as SMART, the order becomes active on the primary exhange, NYSE. Maybe this is a silly question, but what should I do to get the ARCA opening price instead ?
So you're saying that OPG with ARCA doesn't result in a live order for BAC? What about premarket ARCA limit orders? Those probably participate in the opening cross, although I'd need to check to be sure.
My bad, then OPG and ARCA instead of SMART, why are you making it complicated? You have to consider that there might not be nearly enough liquidity.
I got about the same answer from IB support : "A customer can create a Limit order with the attribute for "Yes" to outside RTH and add a time condition for the order to become active right at 09:30 EST." But should the stock open lower than my buy limit, I'm afraid to get a worse fill than the open...
With OPG and ARCA, the order is not green but blue...waiting for the stock to open on the NYSE before becoming active.
At what time was it blue? It's normal for OPG orders not to be transmitted until I believe 2 or 3 hours before open. In certain cases some are even blue 15-20 before open but that's very rare.
3-4 min before the open. I know everything is setup correctly, because when I specifiy NYSE as the exchange, my orders are green, and I do get the NYSE opening price. Maybe IB allows OPG orders only for the the primary exchange ?