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Old Mar 8th, 2012, 06:24 PM   #115
sprstpd
 
 
Join Date: Apr 2003
Posts: 2,571
Quote:
Quote from bs2167:

0 offsets roll back whether ISLAND or SMART routed. Any offset > 0 will roll back only if routed to ISLAND. The website is correct.
This jives with my experiences.
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Old May 1st, 2012, 05:40 AM   #116
jclaruelle
 
 
Join Date: Jul 2005
Posts: 12
I have 2 more questions for those familiar with pegged orders :
- what is the probability to be executed if you direct your orders exclusively to ISLAND : how much average time will you stay before being executed if for example you sent a pegged-to-midpoint order
- how can you verify that your orders follow/rollback with the markets, knowing that those orders are hidden ...

JC
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Old May 1st, 2012, 12:43 PM   #117
jtrader33
 
 
Join Date: Jun 2005
Posts: 356
Quote:
Quote from jclaruelle:

I have 2 more questions for those familiar with pegged orders :
- what is the probability to be executed if you direct your orders exclusively to ISLAND : how much average time will you stay before being executed if for example you sent a pegged-to-midpoint order
- how can you verify that your orders follow/rollback with the markets, knowing that those orders are hidden ...

JC
Too many variables to answer your first question. I believe only the pegged-to-mids are hidden, so you can easily watch the others roll back (or not). TWS also has a field that will show current price which will allow you to see your prevailing bid/offer on a pegged-to-mid.
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Old May 2nd, 2012, 03:37 AM   #118
jclaruelle
 
 
Join Date: Jul 2005
Posts: 12
Quote:
Quote from bs2167:

Too many variables to answer your first question. I believe only the pegged-to-mids are hidden, so you can easily watch the others roll back (or not). TWS also has a field that will show current price which will allow you to see your prevailing bid/offer on a pegged-to-mid.
Thanks for the answer bs !
On Monday I sent trhough IB a pegged-to-midpoint order at 10:00 am on stock CSC. Limit was sent on the bid for a sell order. It executed 13 minutes later. Does it sound normal ? CSC has good volume. But how is it with less than 1 Million shares per day volume stocks for pegged-orders executions ? Is it still easy to execute with low volume stocks ? Let us say I want to execute in less than half an hour with a pegged-to-midpoint order. Is there a limit in volume/per day under which I should consider another order type ? My objective being to be executed near the NBBO ...
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Old Nov 15th, 2013, 11:48 AM   #119
jtrader33
 
 
Join Date: Jun 2005
Posts: 356
Question(s) for anyone at IB:

Do native ISLAND REL orders route out if they become marketable on another ECN/exchange?

Would you consider adding roll back functionality to HIDDEN SMART REL orders (pegged-to-primary) with positive offsets? This would allow trading outside of regular hours (not possible w/ISLAND natives). Additionally, if the answer to the routing out question above is no, these would presumably take care of that as well.

If hidden rollbacks aren't feasible, how about enabling a discretionary amount on SMART REL orders with zero offset (that already roll back)? Or even adjusting the price field in the A/D algo under "Take Entire Offer" to allow for bid/ask +/- offsset?
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Old Feb 6th, 2014, 10:37 AM   #120
kostia00
Interactive Brokers
 
Join Date: May 2003
Posts: 102
Quote:
Originally Posted by jtrader33 View Post
Question(s) for anyone at IB:

Do native ISLAND REL orders route out if they become marketable on another ECN/exchange?

Would you consider adding roll back functionality to HIDDEN SMART REL orders (pegged-to-primary) with positive offsets? This would allow trading outside of regular hours (not possible w/ISLAND natives). Additionally, if the answer to the routing out question above is no, these would presumably take care of that as well.

If hidden rollbacks aren't feasible, how about enabling a discretionary amount on SMART REL orders with zero offset (that already roll back)? Or even adjusting the price field in the A/D algo under "Take Entire Offer" to allow for bid/ask +/- offsset?
We now support SMART REL order with zero offset and discretionary amount. No new TWS should be requires, this is backend change.
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