Interactive Brokers CME Stop vs Market from ATS

Discussion in 'Order Execution' started by coolraz, Dec 6, 2008.

  1. coolraz


    I wanted to know what you guys think about IB "simulated" stops for CME

    I have two options.
    either put in a STP order in TWS and it's simulated by IB and triggers and becomes a MKT order
    let an ATS track the stop price and put in a MKT order when it's triggered
    (the ATS is already all set up and passes orders in milliseconds, so that's not the issue)

    Do people have really bad fills on IB's CME STP orders since they're non-native to the exchange?

    Does IB ever "lose" the STP and it simply never even gets hit....?

    Between an IB STP and MKT order will there really be any difference that is significant??

    My ATS is pretty reliable, but in the end I still rely on IB's connection, so if using ATS, I also have to consider if I had an internet outage (have 2 internet connections but u never know...) then the ATS would fail to keep tracking the stop BUT the simulated IB STP order would still be on IB server.

    Let's say

    I know this has been discussed before but I wanted to know people's opinions on this and especially their latest experiences with CME STP on IB.

  2. You could also use a stop limit which IS native to GLOBEX (with a limit price low/high enough to simulate a market order) and would reside on the exchange itself. Then it might be visible however, so it might be subject to someone running your stop.......
  3. coolraz


    For STOP LMT on CME, trading say ES, what would difference btw the trigger and lmt price would u use to make it work like a Market (i.e make sure it fills)?

    Do you really think someone would run my stop? It's not like i'm trading 100 cars lol!