IB and NYSE OPG (opening orders)

Discussion in 'Retail Brokers' started by ler, Oct 31, 2002.

  1. ler

    ler

    This morning I could not place any NYSE opening order with TWS. Only DAY and GTC are available for time-in-force when NYSE is selected as the exchange. I could specify OPG yesterday and several other times in the past.

    I saw the same behavior last Friday. IB support told me I could choose SMART for the exchange with OPG as T-i-F and the order would be routed appropriately. Since IB "simulates" opening orders for routes that do not actually support them I am very leery of placing an order this way. If I want an NYSE opening I want to be able to say so.

    I am running TWS version 779.6 locally.

    Anyone else seen this and/or know the solution?
     
  2. Htrader

    Htrader Guest

    I'm running version 777 and I was able to place direct NYSE OPG orders this morning. Sounds like a TWS version problem.
     
  3. tntneo

    tntneo Moderator

    no problem with OPG today.
    using 780.5

    If you did not have an error message,
    did you try to switch the time in force in the order dialog or directly on the order line ?
    I usually switch from the order line.
     
  4. ler

    ler

    No error message.
    Order setup all done from the ticket window, but I just tried it from the order line and I see the same lack of OPG.
    I guess I can try the newest TWS, but it seems odd that OPG orders did work previously with this TWS.

    Go figure.
     
  5. def

    def Interactive Brokers

    MOO works and apparantly always did.

    You just need to set to OPG for the time in force on the ticket window.
     
  6. ler

    ler

    Doesn't work for me. If I set OPG in the ticket window it gets changed to DAY when I select NYSE for the exchange.

    However if I set up the order from its line on the order management window it works only if I set OPG first, then NYSE. If this is reversed (setting exchange first) the OPG choice disappears, only DAY and GTC are available.

    The routing does appear to work correctly (short BBY for +.18 this AM, shoulda held longer :) when entered from the order management window.

    This AM I tried starting TWS first to see if the ticket window problem might be due to a Java VM interaction weirdness with something else using the VM (livecharts) but it didn't make any difference.

    Can anyone report success in NYSE/OPG orders entered via the API? That's next ...
     
  7. only enter OPG; it's automatically routed to NYSE
     
  8. ler

    ler

    Uhh, color me skeptical.

    I would fear that an OPG order without NYSE routing could get an IB simulated opening price. That's not what I'm after.

    Besides, if SMART+OPG is autorouted to the NYSE then doesn't the recent IB announcement on the additional $0.003 for directed API entered orders amount to a stupidity tax on openings? (Yes, I understand there are other times to direct routing also.)

    Inquiring minds want to know...
     
  9. def

    def Interactive Brokers

    If you route SMART, you don't get the charge - no matter where it gets directed.

    If I'm not mistaken, MOO orders get the opening print so why would you care which exchnage gives you the fill. Nevertheless, they get sent to NYSE. TMBR routing provide immediate execution. Since that can't be done for an OPG order, it must go elsewhere.
     
  10. sssssss.......Mark, don't spread the secret...........:)
     
    #10     Nov 5, 2002