I used to trade with them, when I traded e-minis and there was a problem with their system. I tried to cancel an order and they couldn't give me confirmation until midnight. it was a 3 lot sale in the naz and the trade could be 2500$ against me because of the 40+ point rally. it ended up being ok. but I had to sit and worry all night, and couldn't go to sleep until 12:30. they are not reliable and the customer service I thought sucked, and they had no clue what was going on.
See what happens, you guys have come to expect better and faster fills from TMBR. I looked at the prop side trading volumes and the equity volume was pretty high - meaning they were trading. There are so many variables factored in to how the US makes markets that it is hard to say why TMBR was less agressive. Here's an example and this is just an example of what could have happened. assume the portfolio has a large amount of gamma. The market is trending in one direction as a result the portfolio is getting longer. As the saying goes, let your winners run and cut losses. Rather than sell into a rally wouldn't it make sense to be less aggressive? Other alternatives could be as simple as that TMBR was on the same side as you , or other firms had axes to grind and made better markets. If someone is showing a better price, you will not be routed to TMBR - and for all of you have been around these boards for a while perhaps spectre level 4 figured us out
Def, Any update on whether or not IB plans to offer bullets in the near future (within 2 months) ? Gambler
I usually get a least 50% of my fills from TMBR. Today, just one fill - they sold me LMT - very late in the day. nitro
I don't trade with IB but am curious about getting filled on TMBR when trading NYSE stocks. Does this show up on level II? I don't ever remember seeing TMBR on my level II (realtick) for a listed stock? Can one still route directly to the specialist via Superdot on IB's system? Leland
TMBR routing is an internal benefit for IB customers. The Timber Hill prop side trades well over 20 millions per day. If it can match or better a client order (i.e. the TMBR internal price becomes a hidden part of the NBBO) it will provide an immediate execution to the client. If you do not want to have the possiblity of executing agaisnt TMBR, you can choose to route directly to NYSE.
def, Thanks for the explanation regarding TMBR. So IB is working on having bullets for retail clients? Will these be electronic? You can't beat IB's commissions thats for sure. Leland