How to specify that a PINK sheets (OTC) order at Interactive Brokers is to execute only during core trading hours starting at 9:30am, and not earlier 8:00am to 8:30am when there is limited liquidity and higher slippage? Specifically, I'd like to sell 100% of my position in GBTC ( Grayscale Bitcoin Trust) at the price as of 9:30am EST. If I have "MKT OPG SMART" then I get a partial fill at 8:00am opening with slippage via "OTCLNKECN", and majority of my position stays with remaining shares cancelled. If I have "MKT DAY SMART" then I get a partial fill at 8:00am opening with slippage via "OTCLNKECN", some small lots executing here and there before 8:30am with even more slippage via "OTCLNKECN", and the rest/majority then going through at 9:30am via "MM". Order Ticket options: Symbol: GBTC.PINK Order type: MKT Time-In-Force: OPG, DAY Destination: SMART, ARCAEDGE, OTCLNKECN https://www.globalotc.com/trading-hours-and-holidays Opening Session: 8:00 a.m. to 9:30 a.m. ET Core Trading Session: 9:30 a.m. to 4:00 p.m. ET
If destination/exchange supplied as "MM" through the API, then it comes back with "200. Invalid destination exchange specified" If destination/exchange supplied as "ARCAEDGE" through the API, then it comes back with "PINK.PRIMQX Warning: your order will not be placed at the exchange until 2020-05-05 08:00:00 US/Eastern" just like with "SMART", I want it to be closer to 9:28am If there is no way to place an order the night before but good for 9:30 core session, I may have to time placing my order with IB between 8:30 - 9:28am.. still don't know why there are no fills in that 58 minute window, and exactly at 8:30 the destination in my pending order changes from "OTCLNKECN" to "MM".
Can't you not select something like "don't participate in opening auction"? BTW I don't understand why you use market orders (especially before open and on OTC)...