i have an account with ib and i'm almost certain they'll put the order with timberhill the market maker they own. you're thinking about assents smart order's which automatically routes to the nyse becasue they own no market makers.many prop houses have auto cancel replace software and when they don't many prop houses don't pass the charge on
Equity orders NEVER reside with Timber Hill. Orders are only routed to Timber if it can provide an IMMEDIATE fill at or better than the NBBO.
so what are you telling me def? you're going to tack on a huge .001 if one puts a limit order in on a nyse stock. so if i buy ge and leave for an hr i have to put on island to avoid that huge charge?after crunding these unbundled commissions i'd sday most people trading naz and under 500k shares a month is better staying with the .005 all in
If you don't use SMART, yes we will pass on exchange charges. If you do, SMART will handle the cancel/replace and there will be no fee. I won't argue that the .005 fee might be best for many clients as we include all charges (ECN, SEC, exchange etc). However, there are numerous high volume traders that will benefit greatly from these fees.
Def, How can I switch from bundled to unbundled for stocks in my A/C? I went to Account Mangement/Fund Management in my account, I did not see any options there to change to the commissions pricing structure.
I did not chose to trade futures in my account. So I did not see "Futures pricing designation" option under Fund Management menu in my account. I called your Hong Kong office today. A lady there could not tell me why.
It's possible this was overlooked, as 99% of our accounts are set-up as multi-asset. This issue has been forwarded to the relevant people. (The lady in the HK office returned your call and should have said the same).
Thanks,Steve. Could you show me how to change my account to multi-assets? I opened my A/C quite a few years ago and forgot how to do it.