IB - How to get between bid/ask spread on Futures?

I noticed when reviewing Futures data (e.g., VIX futures) that occasionally the transaction posted will be between the bid/ask spread even though I have no option to select anything between them (e.g., VIX futures might be 14.05/14.10 and I see the latest trade posted at 14.07) when entering a trade.

How do I get between the bid/ask spread using IB? Or is that not possible?

 

That is spreads trading that you are seeing probably. They can trade in penny increments but outrights are by the nickel

 

This happens with the VIX futures when you are trading a VIX future time spread. When you are trading the future outright, you can't do it in penny increments.

 

I believe a floor broker can print spreads in pennies.

 

Very helpful. Thank you very much for the prompt replies.

 

Also, to follow up on Robert's answer, it's not just floor brokers -- there's electronic access to penny-increment VIX spreads as well. For example, IB offers it.

 

Then IB must have a broker in the crowd. The CBOE and other brokers told me that is the only way to do that, unless there has been a change in policy. It promotes the use of members.

 

Not true Robert. As I said in post #3, VIX futures time spreads can trade in pennies. I traded these quite a bit through Redi. Also I don't believe there is a "crowd" for the VIX futures.

 

I misread the post. I thought it was about options on VIX.

 

Actually Vix option spreads can also trade in pennies. This can be done electronically through the COB or with a broker. The options, if traded by themselves, not in a spread, cannot trade in pennies, even with a broker.