Registered: Jun 2006
Posts: 61

Calling any Interactive Brokers guys on elitetrader (Def? Dav?) ... can anyone tell us when/if TWS and the API will support native hidden limit orders direct-routed to NYSE?

I would also be interested in answers to the same question for ARCA, BATS and DirectEdge...

Question for all: I'm assuming IB will come back with a really depressing answer, or none at all ... I need to do some testing with hidden orders ... can anyone give me some names of DMA brokers that do offer direct NYSE routing for the hidden order type, where I can quickly open a small (say, $100,000) account and do my testing? Of course, if this order type turns out to be interesting enough I would jack up the account size and start sending some decent volume...

Registered: Aug 2010
Posts: 140

Hidden orders are not native to the exchange, at least on the derivative exchanges... but I'm pretty sure it goes for the nyse too.

Registered: Jun 2006
Posts: 61

Check the exchange docs ... all the majors now have native hidden order types ... probably all the regionals too ... so far as I can tell (not very far), anyone can submit the basic hidden limit order type except maybe on AMEX.

Registered: Jun 2006
Posts: 61

Sorry, to stop flamers: I'm talking only US equities here...

Registered: May 2002
Posts: 6474

can you post a link on those exchange docs?
i couldn't find any hidden orders here-

www.nyse.com/pdfs/fact_sheet_nyse_orders.pdf

but, you right about BATS..

http://www.batstrading.com/features/

looks like they do support them. i'm also interested to hear the answers from IB. right now only island is supported(which is sucks,cause there is less and less volume on that ecn)

Registered: Jun 2006
Posts: 61

usequities.nyx.com/markets/nyse-equities/order-types

... see the "Dark Reserve" order type.

Also, a good general reference for other exchanges:

haimbodek.com/electronic_markets.html

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