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Old Apr 27th, 2012, 02:07 PM   #1
stdy
 
 
Join Date: Jan 2012
Posts: 11
My stock buy order was the only one at the inside price (bid $17.10, routed to Nasdaq, thinly traded stock). Then I see an execution (as per Tradestation time and sales) of over 1000 shares at $17.1001 on TRF (FINRA's Trade Reporting Facility, apparently). Earlier today I routed an order to BATS, and there too somebody stole my fill for a hundredth of a cent.

Who is stealing these fills, and more importantly, is there anything I can do to prevent it? (Note: I placed the order through IB, not Tradestation; I mainly use Tradestation for platform purposes. IB is generally very good about fills, and I don't suspect any funny business on IB's end.)
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Old Apr 27th, 2012, 05:22 PM   #2
Fractals 'R Us
 
 
Join Date: Aug 2008
Posts: 2,357
Quote:
Quote from stdy:

IB is generally very good about fills, and I don't suspect any funny business on IB's end.)
That is the good thing about IB, they seem trustworthy.

IB has a lot of ways to enter an order, maybe not all of them can be done via the API, not sure about that. Sweep to fill, etc.. maybe you could pay two one hundredths of a cent for the privilege of getting filled or do something like that.. Just my two cents really, I trade futs and pricing is in quarter points..
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Old Apr 27th, 2012, 07:13 PM   #3
Bob111
 
 
Join Date: May 2002
Posts: 7,416
Quote:
Quote from stdy:

My stock buy order was the only one at the inside price (bid $17.10, routed to Nasdaq, thinly traded stock). Then I see an execution (as per Tradestation time and sales) of over 1000 shares at $17.1001 on TRF (FINRA's Trade Reporting Facility, apparently). Earlier today I routed an order to BATS, and there too somebody stole my fill for a hundredth of a cent.

Who is stealing these fills, and more importantly, is there anything I can do to prevent it? (Note: I placed the order through IB, not Tradestation; I mainly use Tradestation for platform purposes. IB is generally very good about fills, and I don't suspect any funny business on IB's end.)
where have you been? this s*** going on for like 5-7 years on every stock in US..called subpenny orders. search google for more info

http://www.investopedia.com/terms/s/...#axzz1tHlXyB7j
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Old Apr 27th, 2012, 08:55 PM   #4
stdy
 
 
Join Date: Jan 2012
Posts: 11
Bob, thanks for the link. I never realized how common the practice is.
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Old Apr 27th, 2012, 10:14 PM   #5
Bob111
 
 
Join Date: May 2002
Posts: 7,416
Quote:
Quote from stdy:

Bob, thanks for the link. I never realized how common the practice is.
sure...welcome to my house of pain..you can be right about the price and direction 100 times each and every day..but there is no guarantee that you will get even a few shares at your price...i've been saying this for many many years-US markets are FUBAR..for a decade or so there is no single regulation been made in favor of average joe. all in favor of WS. how fair this is ,when they can place subpenny orders and you can't? when they can place 47K useless quotes per second on single stock without any intention to buy or sell anything and you can't?
if SEC really 'for people' they should and can ban this subpenny shit overnight. but they choose not to. cause they all owned by WS. ALL OF THEM. this is just one perfect example for you,to understand,who is really running this country.

http://www.youtube.com/watch?v=acLW1vFO-2Q
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Old Apr 28th, 2012, 01:47 AM   #6
stock777
 
 
Join Date: Jul 2001
Posts: 16,260
the problem is getting filled on the bid for buys or ask for sells, not taking liquidity. If you want shares, they are easy enough to buy , you just have to pay the offer.

Not sure what the complaint is about getting filled.
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