IB and Super SOES

Discussion in 'Retail Brokers' started by trader1, Jul 31, 2001.

  1. trader1

    trader1

    Does anyone know if IB is using super soes? If yes do you just choose soes as the route? I have a problem that when I choose soes as the route, I dont have any bids or offers displayed in TWS. Anyone else have this problem?
     
  2. def

    def Interactive Brokers

    IB does route to SuperSoes. As for your queston on quotes, other users are best to comment. Perhaps you should try the BEST option on SuperSoes stocks. I'd be interested on feedback regarding this execution method.
     
  3. gh1

    gh1

    I don't get quotes using SOES as a route either. so i use the drop down routing feature when a MM is on the inside and i want filled -- to be sure it is slower. So it is not a great option in a fast market. Not really sure why there are no quotes though.

    I'd be interested in hearing from anyone who uses SOES routing with IB on how they do it

    regards/greg
     
  4. def

    def Interactive Brokers

    gh1,
    I didn't have the time to log onto the system during US hours to check. I asked the HK help desk and they haven't heard of any complaints either. Perhaps you can send me a mail with the stock in question, I'll give it a shot and if quotes are missing I'll follow through. Alternatively, you can try an online chat when you are having the problem and a rep should be able to assist.
     
  5. trinfo

    trinfo

    The SOES route never has any quotes displayed - use the ones from the NASDAQ route, which are exactly the same as the ones on the SOES route would be.
     
  6. trader1

    trader1

    But if you use the NASDAQ line will the route be supersoes or selectnet? IB really has to communicate better with it's customers on how things work. I think people here know more of whats going on then their tech support does. I tried sending them an e-mail about the margin question and got back a reply that they didn't understand what I was talking about and that margin is set by the fed. I gave up right there trying to get answers from their help staff. IB seems very reliable with uptime, excellent executions(when they don't hang), great commissions but they need to work with their communication department and fix the margin problem.
     
  7. Babak

    Babak

    if you designate destination as Nasdaq or soes it goes to SS

    see their press release on the SSoes implementation for further details
     
  8. roger2

    roger2

    regarding SuperSOES.. i followed a link to IB (from another thread) and copied this paragraph:

    "Please note that for Nasdaq stocks that are not National Market System securities (e.g., Nasdaq Small Cap stocks), NASDAQ's current SOES and Selectnet will remain in operation according to the same basic rules as in the past. IB customer orders in these securities that are routed to "SOES" will go to SOES, and orders routed to "Nasdaq" will be preferenced to a market maker or ECN via Selectnet"

    so apparently when routing 'Nasdaq', if it happens to be a Nasd. small cap your order goes through Selectnet and could end up with a MM