BEST_ECN Missing?

Discussion in 'Retail Brokers' started by Trader01, Mar 18, 2002.

  1. IB is ok. I almost always use BEST. The supersoes is really cool.
    Best of all is IB commission and trading time.
    #21     Mar 18, 2002
  2. stevet


    2. New prices for Futures in Europe and Options on Futures in the US (same $2.40 as Futures).

    What does "New prices for Futures in Europe" mean? - Commisions?
    #22     Mar 19, 2002
  3. Neil


    I will have to reserve judgement as to whether abolishing best ecn is an improvement or not... it may well be.. I switched to using best ecn after a good few bad delays on best ex which cost me a bit.. found best ecn to be faster.. faster than a speeding bullet sometimes! So will have to see...

    What annoyed me is that IB did their 'who gives a stuff what the customer thinks' thing... I do not visit their site and plumb the depths of their pages every day so did not notice any such announcement there.. not mentioned on their bulletins on the platform.. not listed as part of the changes on the new version that I downloaded at the weekend... so I just logged on monday morning to find all my pages empty.. all set to best ecn.. so not one stock left on any page, no explanation. thanks a bunch... customer relations def.. customer relations.. pass it on

    #23     Mar 19, 2002
  4. mmm... I was under the impression that SuperSoes only fills immediately if and only if there are no ECNs at the inside... with ECNs at the inside, SuperSoes doesn't fill at all, according to the new order routing rules... or am I mistaken?
    #24     Mar 19, 2002
  5. def

    def Sponsor

    if an ECN has a better price, the order would go to the ECN.

    neil, noted and forwarded.
    #25     Mar 19, 2002
  6. Neil


    Thanks Def...
    #26     Mar 19, 2002
  7. ... the implication of which is that your assertion that SuperSOES fills immediately is not strictly valid.
    #27     Mar 19, 2002
  8. alanm


    #28     Mar 20, 2002
  9. def

    def Sponsor

    alan is referring to a customer service survey on the web site. The survey's are taken seriously and this would be an opportunity to make a difference and get your voice heard.
    #29     Mar 20, 2002
  10. fleance


    [I received this in the email from IB today]

    IB Notification-March 22, 2002

    Dear IB Customer:

    IB recently eliminated the Best ECN routing alternative for Nasdaq National Market Securities (NMS). Best ECN was originally offered to our customers because of complaints about execution delays in cases where IB's Best Execution system sent orders to Soes or Selectnet. Best ECN omitted SOES and Selectnet from the Best Execution routing logic, eliminating these potential delays.

    Because of the introduction of SuperSoes, which immediately fills orders for Nasdaq National Market Securities, Soes and Selectnet are no longer available destinations for the routing of Nasdaq NMS stocks, eliminating the need of Best ECN for National Market Securities.

    We will continue to offer Best ECN as an alternative to the Best Execution routing logic for Small Cap Stocks. This is because for Small Cap Stocks, Soes and Selectnet remain available routing destinations.

    IB Management

    #30     Mar 22, 2002