IB Booktrader Brackets CME Messaging Policy

Discussion in 'Order Execution' started by Lorenzo91, Dec 19, 2008.

  1. Before anything I have read this entire document, however I would still like insight because even with minor alteration to my bracket once the order has been placed it completely sends to many messages to fall within parameters according to my numbers.


    My situation: I use IB Booktrader advanced mode and submit instant bracket orders with one click. The target limit, buy/sell and stop.That is 3 signals, if I modify slide the entire order up and down a couple more times that is 12 more signals with 6 being cancel and 6 new ones.

    However most the time I am sliding the stop and the target limit to new areas all while in the same trade. Creating an endless stream of signals in my log.

    I have not received any notices from IB yet but I am always nervous and I feel like it affects my trading since the 2k fine is always in the back of my mind. Again Sometimes I only place five trades in a day and I open my log and it is pretty crazy the number of signals it generated.

    I guess my question is if anyone has any experience with this, or similar situation? Anything will help me thank you.

    Oh I forgot, I trade the ES, which is a 4/1 signal to volume for this quarter according to the link within the link I posted above. Here it is.


    I have heard the 500, and 50 to 1 comment before but it looks to me like that is for other instruments.
  2. It looks to me that these fines are levied at the broker level. That is, IB would be fined, not you.

    I find it hard to believe that a retail customer trading a liquid product like ES could trigger such a fine.

    They're probably trying to prevent you from doing what MMs do all the time: put limit orders on and then take them off thousands of times a day, just to create market movement.