Hi Does anyone know the minimun size option order that can be sent to the I.S.E. Exchange , and the minimum amount of time an limit order needs to be posted before one can cancel the order.
I believe that you can trade a 1 lot if you want. I believe that you can cancel the order any time. However, you are probably better off e-mailing your question to: surveillance@iseoptions.com www.iseoptions.com
The size should be 1 contract for most products. I also think you can cancel immediately. There are strange rules these days with the US option exchagnes like not being able to send in orders on the same contract within 10 seconds. So probably best to check.... http://www.iseoptions.com/download/rules.pdf I'm sure someone else here is more familiar with the US option rules. If you don't get a response, PM me and I'll ask one of the guys making markets on the ISE for the info.
I've used ISE for a good bit of options trading through IB. I've never noticed any type of delay when I wanted to cancel an order. I've also traded 1 contract at times. Personally, I prefer ISE due to their quick cancellations. I've had too many problems trying to get filled using other exchanges during volatile markets...too many times I've been unable to cancel after sending an order. I've waited for minutes sometimes just to get a cancellation notification. The exchange that I always seem to have the biggest problem with is PSE. As I said, my personal preference is ISE because they are electronic and have no lag for fills or cancellations. Happy trading.
A 1 lot. No minimum for time to cancel or cancel fees. The cancel fees generally only effect traders using firms that primarily represent high volume, professional off floor traders with little or no retail customer base. Generally they are if the firm cancels more than 50% of their total orders, they are charged $.50-$.75 per cancel for all cancels. slk, and their varios JBOs, and branch offices are the only group I know for sure pass on these fees. The fees were put into place to handicao large volume off floor traders and try to return the edge to the floor.
Now how is this not a true value to all of us here on this board?! Thanks def for willing to go the extra mile to help everyone. Tony
hello everyone this is an update ... I was told that if I am using IB's software to send an order via their BEST EX. ... I am fine and do not have to worry if however I SEND an order DIRECTLY to the ISE EXCHANGE I MUST WAIT 15 SECONDS before my NEXT order can be submitted to them. stopwatch anyone?