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Non-Tech : Interactive Brokers / Timberhill
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To: dli who wrote (951)1/10/2001 11:32:44 PM
From: Dan Duchardt  Read Replies (2) of 9012
 
Hi Dave,

There is an interesting little quirk I've run into lately that I thought I would mention here. I'm starting to see a lot more quotes on ISLAND and REDI at 1/64 increments, as we have seen on INCA for a long time. On the old TWS at least, increments are limited to 1/32 and are always rounded DOWN for both buys and sells when you click on the IB quote. This is OK for all sells, and INCA buys since an INCA offer at 1/64 above will be executed at the next lower tick, but it doesn't work that way for ISLAND, and I think not for REDI either. For those you have to increment your price above the quoted ECN price or you wont get filled. I'm sure ISLAND is working this way and I've missed several fills because of that 1/64 discrepancy. Has this been your experience with REDI?

Dan
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