Yes, i will agree that is a sore topic and TMBR's policies are questionable regarding this topic. Being that i am not an institutional client seeking trade error restitution i could care less. My comment was specific and deliberate to show that TMBR does things a certain way while other outfits have a more palatable policy comprised of good faith and fair business practices. To even think that a market making firm does not pick up on errors is asinine and to believe that certain costs should outweigh a long-term mutual relationship shows the lack of decency on TMBR's part. Everyone on the street knows about them and everyone is cautious when dealing with them.
I would love to speak to you humps off the record. I bet you have some great horror stories to tell....whichever one of you rice burners is using this handle right now. Keep hiding behind the NBBO and see how business is in ten years when you have wiped out every retailer from here to japip.
my smart routing through IB sucks is robbery especially if its routed through TMBR... what a disaster the worst prices
http://www.thememoryhole.org/corp/finance/sec_amex_report.htm See link. If retail traders find a profitable way to trade in the options markets, the exchanges and specialist firms institute "special rules" to delay and mishandle their orders. This according to an internal SEC report. Attention "def" - any comments?
Moreagr: Are you saying you are getting TMBR fills that are worse than the NBBO? If so, I'd encourage you to tell IB about it - it's definitely not their intent. It should be easy to look at the audit trail timestamps and compare them to time and sales to see if it's true.
alanm, you are absolutely correct. Out of the trades that go through TMBR each day (and there are thousands) it certainly is possible that someone will better your bid immediately and thus you may think you have a poor fill. However, it is just as likely for the opposite to happen. TMBR fills on the NBBO or better. Given the thousands of executions per day and generally very positive comments in regards to these instant fills, I assume all is ok. If you have a particular problem with an order, contact the help desk.