Bond trading with IB

Discussion in 'Professional Trading' started by oraclewizard77, Mar 1, 2010.

  1. oraclewizard77

    oraclewizard77 Moderator

    I was just wondering if anyone has done any bond buying or selling on IB. Do you need to be signed up for a feed, and how would you go about finding the bonds that you want.

    For example, on a previous broker account I had, I was able to use a scan, where I could put in the dividend, the min level of bond rating, and max level of bond, rating, and it would display results for me to do my DD on.

    Does IB offer anything similar, or if not, is their a 3rd party website you use before trading bonds in IB?

    Anyway, looking for a little information if anyone here does bond trading.
  2. You have to sign up for the market data for it, but I think it's included in the non-professional package that everyone gets.
  3. Bob111


    if you are talking about corporate bonds trading -it USE TO BE good with IB. the feed is free for an individual. i use to make good average US salary x2 on this business alone..not any was a great start @ 2005 when IB is only firm,which is offered direct access to bond exchanges. sure there is a lot of issues with TWS and API and i work pretty close with IB's developers to solve them. they really appreciate that...they even introduce me to WSJ journalist and i was mentioned with all my little app's in that paper couple times..but..during and after the "crisis" IB did implement number of constraints that doesn't make any sense to any trader and virtually killed bond trading. i did wrote few time to IB's management,but no changes or even an answer..issue number one-any position regardless to liquidity or quality of the bond is treated as 100% margin. forget about what they are saying on their web have 100K? you bought corp bond on same amount? you buying power will be zero. you can't borrow against this bond position. period.
    issue number two-in order for you to place an order to any bond exchange there is a MANDATORY by IB that bid AND ask from some "third" party must be presented.
    this one make no sense whatsoever...specially with known small liquidity on the bond market..i can't place an order to close my existing positions because there is no bid AND to fuck you are going to trade? it's like you can't sell your old stereo on flee market, if there is no other sellers and buyers of the stereos are story short-this business is dead with IB..
    i hope they read this..stop this nonsense..imagine stock traders,who can't place an order in pre\after market if there is no bid AND ask..get this trough your head-if i as a buyer is not allowed to place my order -then how to hell seller will find me? no one is going to sell, if there is no buyer presented. if i'm only the buyer -why i have to wait until somebody else is willing to buy? shoot me, but i don't get it..