I would like to find out why for YM the quotes tend to lag on IB's market depth from the bid and ask. ES seems to track very consistently. Is this an isolated problem through CBOT? When you pull up the YM realtime quotes from the CBOT they seem to be more consistent compared to IB depth of market for the same allthough Friday the CBOT had a hard time displaying. Any ideas def. Thanks gw
3 days in a row I had the same problems like jaiko. 30 minutes after market open all bid ask prices are crossed and false. No stop market order is executed when triggered, also selling to the bid with limit order does not work etc. I don´t mean the normal cross of Qs, all displayed Nasdaq stocks were affected, cross of 5 - 30 cent for ~15 minutes. I had friday also the problem with oracle like htrader and heard from jaiko the same. no execution for a stop market order. it was like driving through the fog without brakes. So I don't think the suggestion from def related to software upgrades will help, I use the current versions. The answer from IB to a reclamation for an triggered but not filled order in ebay. 6 minutes after the stop market was hit, the order was matched with a slippage of ~60 cent. Dear Trader, In response to your ticket number 243161: The order did not trigger sooner because the price ( bid ask and last ) did not meet the requirements needed to trigger until it actually triggered. If you have any further questions, please feel free to contact us. Regards, John W IB Customer Service That´s unbelievable. They are right, the bid / ask did not met the trigger! because all bid/ask prices are false. But I use the last (single) method for stop activation. So this answer is a joke. Also if it is a local problem, I can not understand why the stop order will not work when the price is hit, when this order is located at the IB trade server or directly to the exchange. If my connection is down or I shut down my computer the stop must also work. So I can not understand why the order will not work when the bid / ask price is false. The worst thing at IB is the fact that a trader will not get a order history for all placed (not only filled) orders with timestamp, # of shares, stop/limit price etc. to have a document for reclamations.
ufo12 : Also if it is a local problem, I can not understand why the stop order will not work when the price is hit, when this order is located at the IB trade server or directly to the exchange. If my connection is down or I shut down my computer the stop must also work. So I can not understand why the order will not work when the bid / ask price is false. Please def tell us your opinion to ufos posting .
It is impossible for me to comment without explicit details (including time and sales and the audit trail). If any of you care to e-mail me the time, order in question and account number, I'll ask someone in the office to take a detailed look.
Not for nothing but this shows how terrific this site is. I had all the same problems re quotes etc.. Got the pat answer as I stated. Now I'm glad to hear that I am not alone in the world. I thought that maybe it was my service dsl provider or my older computer etc. I route my orders using smart. But nothing went leaving me to be shutout of market movement. I hope that they take the suggestions given to eliminate the crossed market ecn issue. Thanx all
Next time you have this problem, exclude ARCA from your SMART routing as FX-Trader said before (see TWS Configure / Misc.). In fact, since ARCA routinely spews erroneous quotes, I would suggest disabling ARCA from SMART as a default setting. And if you are automating your trading and have to leave your computer, then definitely remove ARCA from SMART since you never know when the ARCA datafeed will have its next meltdown (although you can be pretty sure it will be soon no matter what time of day it is). If you are present to monitor your positions, then I suggest having multiple routing lines so that if you notice weird quote behavior you can trade on an ECN that is showing valid bids and asks. It would be nice if IB could auto-detect these erroneous bids and asks (and not show them), but until that happens you have to take extra precautions while you are trading. Good luck.
I don't think that arca is the problem. I had the same problem with the ORCL stop market with a second account which has no subscription to a datafeed. There are now 4 accounts with triggered but not executed stops for ORCL on friday. It seems, that def is interested to look inside to this problem. I will send now the trade and account information with PM to def and suggest htrader and jaiko to do the same. I can not exactly remember the time and price for this trade, (IB has no statement for placed orders) but it is possible to find this trade with my information, I had only one stop for ORCL.
from my experience over three years -it is no matter what arguments you will have,screenshots,trade logs whatever- IB never admit if problems on their side. they will point on someone else or on you. my suggestion-live with it and don't waste your time on emails. it not going to change anything. also there is no reason to change a broker, because they can have same problems)))all answers will be just like in post above)))))))) def! don't take it personally, you only one who really been helpful))))
Thank you def for your investigation in this problem. Yesterday all was normal, but today around 10:00 the crossed bid ask problem was back. I tried to exclude ARCA from smart and there was an improvement. a short time later a stop market in a 19$ stock with 2 million shares traded after the first hour was hit, and I got a slippage of 20 cent!! I cant believe it, there were dozens of trades at better prices after my stop was hit. I think this is also a situation to investigate. the stock was THQI, the stop market was triggered at 10:18 at 19.20 activation price, fill at 19. Excluding ARCA is excluding 20% of the ECN volume and the chance to get very bad fills is fact. It is also inacceptable that stop markets are not valid when the bid/ ask is false at my TWS, the trigger method is last, and the stop should not be stored at my computer. I hope def can do anything to improve the situation. With this situation I would prefer to pay higher fees for a more stable system and a broker which is prepared to be liable for his faults.