IB and All or None orders not working?

Discussion in 'Order Execution' started by rayl, May 15, 2007.

  1. rayl


    I am having the following problem and am wondering if anyone else is also seeing the same thing?

    During regular trading hours, I try to place a day order to buy or sell, with a limit price, All or None, at 100 or 500 shares, with SMART as the destination.

    The order status stays a dark blue, indicating that it was received but not yet working. It remains dark blue.

    I've tested this with NYSE issues, NASDAQ GMS issues, and OTCBB issues. All same result.
  2. It sounds like IB is simulating the All or None instruction. So, if this is the case, IB holds the order in its servers, not at any market center, until such time as sufficient contra liquidity is displayed at some market center, and only then does IB send the order to interact with that displayed liquidity.
  3. rayl


    Ah, thanks. I missed the part in the help that says that dark blue indicates either:

    native/not working yet


    simulated in IB

    I guess I always assumed at least some exchanges would be handled native so when NYSE, GMS and OTCBB all came up dark blue, I assumed an issue.
  4. I would too, and not a very smart decision from IB to use that color for both statis.