IB supports "SMART" on Single Stock Futures?

I don't understand why IB TWS does not support "SMART" routing on Single Stock futures? That way, I would see the best bid/offer from ONE and NQLX.

AFAIK, there is no problem with this, as they are fungable between the two exchanges?

I am somewhat afraid that with Grasso gone, the specs will be enboldened to rip us off more so than in the past.

nitro

 

why are you trading SSFs?

 

Because I keep getting ignored on my offers on the NYSE DOW stocks!

The problem is that the B/A spreads on SSFs are terrible.

nitro

 

They are not fungible.

 

nitro, are you bidding 3 cents for IBM again?

 

No, that was me, Nitro was the offer at 199.99

 

They are not fungible and thus the issue. It can be done but the situation would arise where someone is long on one exchange and short on the other having a net flat position. However, if they didn't have enough margin to support each position independently, they'd risk one leg getting liquidated.

 

Thanks to def and Mike Brown, I thought they were fungible!

Well, that explains it. Though, the TWS could keep track of where the fill executed and then "SMART" would only display that exchange - a hack it is though, agreed.

In any case, the spread is so terrible with these things it is not really viable.

Def, this make is even more imperative that IB offers cheap, margin efficient, electronic bullets. Back when we were discussing this issue, you said that you would wait to see how the SSF experiment would pan out in this regard. Well, IMHO, the SSF experiment, as it relates to being able to short without an uptick, is not viable because the spreads stink on SSF's.

Please reconsider the bullet option.

nitro

 

I'll bring it up again but I think something is being considered.

 

I agree that the spreads are terrible. and not getting any better. The only way I get decent fills is to be a bit early and be selling into a rally when shorts are bleeding and vice versa. They really remind me of when I used to day trade options. If you can see what direction the market is moving, you are allready too late for a good fill. I only swing trade the things or hold all day. forget scalping. Today I traded the qqq ssf and had the last print and not another contract traded for another .15 worth of movement on the qqq. That is really thin. When you look at the size you often see 101 bid and 100 offered. That is the MM at 100 each way and 1 lonely buyer for 1 ct. Now that is thin brother. Give me the YM and I am happy. Scalp it all day long. even in chop. Good trading all