IB all or none orders

Discussion in 'Stocks' started by walterjennings, May 10, 2007.

  1. Hi. I was wondering if anyone has any detailed information about how all or none orders work through IB and the exchanges that support them.

    If i wish to place a limit bid inside the spread of 300lots of a stock. does my order wait at IB until the ask price comes down, matches and appears to have 300>= lots showing on the size?

    or does it get transmitted right away to the exchange and the exchange handles the all or none aspect of it? if the exchange handles it, does my order not effect the bid / ask spread since someone with a market order <300 lots will not be able to fill against my all or none.

    any insights would be helpful in trying to decide if its better to use AllOrNone or not. I am using these orders to hedge so getting partial fills is a bit of a pain in the ass. good fills and performance matters also.
  2. As far as I know IB transmits the combo orders to exchange and the exchange handles the rest. If combos are not supported by exchange they got canceled in IB.
  3. any idea how exchanges handle AON orders which are > min size and are between the spread? do they just not show them in the sizes until it can be filled against a market order of sufficient size (or the spread moves over it)?
  4. I never tried that. Sorry.