Just for clarification, the behavior I observed was based upon direct routed orders only. I had no SMART routed orders in place while observing the loss-of-priority problem. I'm only holding long positions. I don't place sell orders unless I have show the appropriate amount of stock in my portfolio to cover my sell order. Therefore, I am always long. At this point, I intentionally never show a negative number for the number of shares in my portfolio of any particular stock. I'm daytrading and therefore am not tracking the number of settled shares in my portfolio. I don't believe that makes a difference since my time and executions should always yield a long or zero position. If it does, please enlighten me. Others might not notice the changes in priority as much as I do. At this point, I'm trading sleeper stocks that would bore most traders. Could it be that my direct routed orders are just automatically resubmitted to Island after being checked even if there is no change in long/short status?
flbum, at this point we need to pull up audit trail to see what exactly happened to your orders; please call our customer support 1 (877) 442-2757 and have them create a ticket (ask them to cc me on that), or you can PM me your user name and account number and I'll ask somebody from tech support to get in touch with you to get details. Thank you.
flbum, thank you for your PM; I issued a request on your behalf, somebody our tech team will be contacting you.
Though if flbum is willing to share the conclusion, I'm sure many are interested. Also, I think I missed what the current working theory is. Is it solely based on the sell vs sell short? i.e., buys are never affected and if you never enter sell short land bec you have shares in your account, the order is maintained correctly?
dst, with due respect... You use a ** glaring ** LOGICAL TRICK in your response. For INTERNAL purposes... IB must flag orders as NET long/short for Stock Loan compliance. BUT then you INFER... That ISLAND still requires this information to execute a trade... Without providing ANY evidence that this is TRUE or FALSE... Nor actually addressing the issue directly. This is EXACTLY what IB Customer Support is trained to do... Run you around in cirlces until you give up... Without specifically addressing the ISSUE RAISED. Originally... The OP was told to roll back his Java version.
And since people are reading this thread... I will give you a simple reason why I do not trust SMART. I do about 400-500 trades/day... And at least 10 times/day... For an order that is 100% fillable at NYSE the primary market... SMART peels off 100 shares and sends it to Island... Driving up my costs. To use a simple example... For a 200 share order 100% fillable at NYSE primary market... An order that takes liquidity... SMART will send 100 shares to Island... And then the 2nd 100 shares to the NYSE. The cost to me is driven up by about 25% every time this happens... Roughly from $1.00 to $1.25... But IB must benefit somehow... Because it's a premeditated, radical thing to program into SMART. Yawn 1,000,000 times. Just the cost of doing business... Since I will never find out what is really going on.
I believe Island does require Side (buy/sell/sell short) on new order msgs. And on Order cancel/replace, the side must match the original order......
Q+: I don't understand this at all. Is your example correct? If I enter a SMART-routed oder for 200 shares I get billed $1.00 no matter where the order is filled.(.005/share) I use the bundled rates for stocks. Do you use unbundled rates? Please provide whatever is missing from your example to clarify or correct your assertion. Jack
rayl, don't forget buy long and buy to cover. These are on the buy side. It's not just an issue on the sell side. I stay long, so I would not expect to flip any long/short software switches. I received a call Friday after the market close from IB tech support. I was able to give a good detailed specific example from that day (Friday) where a large order got in front of me that should have stayed behind me in execution priority. The Tech said that they will examine my logs to determine what is happening. I haven't heard anything back from them yet. The problem occurred again today. So, it's not yet resolved. For now, I'll wait patiently for IB to resolve this issue for me.