patriciate opening auctions in IB for IWM

Discussion in 'Order Execution' started by ovovov, Nov 12, 2021.

  1. ovovov


    Hi there,

    This is properly had been answered.

    I wonder which type of order should i place in IB in order to participate and hopefully get filled in Arca opening auctions?

    Thank you
  2. You want a market order with time-in-force set to OPG (opening). You need to enter this order a few minutes before the open (NYSE and Nasdaq have slightly different rules for their auctions so it would be a good idea to review their documentation). I've never had an MOO order not fill. You could also use a limit order but the fill will depend on the opening price.
  3. ovovov


    Thanks Gary.

    I saw the prints on Acra sometimes are lower than NYSE print( NYSE takes about 10-20 sec after ARCA filled the first print- or ARCA matches internally. )... I think this is opportynity to take advantage of the mis pricing for the first few mins before the market open.

    Also, same idea applies to market close auction but IB currently does not show imbalances somehow on IWM( it's just at 12 mins after the trading hour) But I can see there are activity are still going on and Prints are strong.. I am still confused about how difference between the market close auction VS extended trading...

    anyone else has insights that can be shared?
    Thank you
  4. ovovov likes this.