Today I bid on an an ETF and I watched for about 15 mins while the market traded .01 to .02 below my bid. At times the bid reflected on the IB Market View was .01 below my bid (I was pretty surprised by this so I took a screen capture). I would like to in what circumstances the bid would show $10 if my bid is for $10.01? Is this common for a security that traded ~17 million shares?
Their smart routing is normally not a dark pool for equities. The only thing I can think of is that you had a frozen data feed and you were looking at old markets. Try sending in a ticket with the times and ask them to look into it.
Data feed was ok unless it was something on their end. I sent them a ticket. Thanks for your reply and for introducing me to lightspeed.
I've seen feeds like that before. Sometime with load balancing, a server get overloaded. Exiting the software and logging back in often solves that as you are assigned to a server with a lower load. I can't tell you that is what happened, but it is one example of what can cause that. The other would be your order was sent to a dark pool. Or, the stock is OTC vs LIsted.
I would be curious to hear IB's reply to you. I have had similar experiences, but did not consider at that time to send a ticket to IB.
Since when would they REST an order in a dark pool. My understanding is dark is pinged but you go to an exchange if not filled .
In the HFT era where 99% of all the quotes are HFTs that have no intent to buy or sell at the quotes you see. Probably just a HFT head game to make you lift the bid and hit at the offer.
I don't know what their equity "SMART" route does. It is my understanding that it does not reside in a dark pool for equities. It is my understanding that their option spreads do.