SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Interactive Brokers / Timberhill
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: atto who wrote (2465)1/18/2002 7:51:16 AM
From: eriksonc  Read Replies (1) of 9012
 
[3. Globex actually doesn't permit true stops, but permits stop-limit orders only (i.e., Globex does not allow market orders)
4. The limit part of these stop-limit orders has a finite range (a "collar") - you can't enter just any limit - it has to be within a certain number of points from the stop price.

According to the info on the page you linked 3 is not true for ES and NQ and 4 applies to market orders.]

What I am saying is that Globex may support some sort of weird market order - but it isn't what I consider to be a market order and the CME apparently simulates it (just like IB). It is not a "native" order on Globex. Only limit orders are native orders on Globex (or stop-limit orders).

So there are no collars on a stop-limit order you manually generate? A previous post on Daytrading Fundamentals implied that this is not true. Since I don't trade futures, I wouldn't know.

[So how exactly does IB simulate last price stop orders? Here is an excerpt from another IB web page:]

This is interesting. It must be that IB's description of its stop orders is incorrect (at least for Globex) or something seriously went wrong with rok's order that day.

Personally, if I specify a stop, I want to get out no matter what. In that case, I would want IB to resend its simulated stop orders (as limit orders) until it got hit. It seems a little weird that IB would only have a 5 point collar for NQs. Maybe their collar is much higher for higher priced securities like the NQ. If so, they should explain this on their website.

Anyway, it seems like rok has some grounds for a dispute here. According to the webpages (which aren't always correct), all stop orders to Globex have a maximum 5 point slippage.

Carl
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News