IB Odd lots

Discussion in 'Order Execution' started by AlphaTail, Dec 5, 2006.

  1. AlphaTail


    Just spoke to a customer rep. Odd lots were "turned off" all day today, and will be permanently disabled during the first quarter of 2007, probably around Feb.

    I love IB, but my money managment scheme requires the use of odd lots. I hope they don't go through with this.
  2. is IB going to turn odd lots on and off till Feb?
  3. JORGE


    While I don't have a problem with not being allowed to trade odd lots, it is extremely annoying when I enter a 500 shr order and get filled on 450, and then the rest of the order gets kicked out because it is an odd lot.
  4. Is this for all orders, or just orders not routed with SMART?
  5. AlphaTail


    Here's what I got out of them so far:

    "The NYSE is forcing us to make this change. They are concerned about customers with odd lots flooding the system with priority orders."

    I'm not entirely clear on the answer. What about ecn's? And I also got rejected on Nasdaq today. Supposedly odd lots will be allowed again tomorrow.
  6. f*ck them NYSE and all

    what are you supposed to do if you are stuck with an odd lot '
  7. i got odd lot orders rejected today that were routed via SMART
  8. AlphaTail


    Kicking, he told me that you can close odd lots.

    All my odd lot orders were rejected today, SMART, ARCA and ISLAND. It's weird, why not allow odd lots through the ECN's?

    And can anyone clarify what a "priority order" is?
  9. sprstpd


    If you find IB's odd lot rules annoying, make sure IB hears about it. I've already sent my trouble ticket in.
  10. this stuff is probably illegal

    anyone should be able to trade on any size they want

    anyone wants to sue NYSE and IB ?
    #10     Dec 5, 2006