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Non-Tech : Interactive Brokers / Timberhill -- Ignore unavailable to you. Want to Upgrade?

To: TraderAlan who wrote (959)	1/11/2001 6:56:47 PM
From: Ken Adams	Read Replies (1) \| Respond to of 9012

Alan, I'm on the brink of opening an IB account, myself. But, numerous "things" recently have discouraged me from going ahead. Please keep us informed of your results. Ken

To: TraderAlan who wrote (959)	1/11/2001 7:42:03 PM
From: booters	Respond to of 9012

how are NYSE executions Hi Alan, It has been a few months since I traded NYSE stocks with IB but the executions were confirmed in 5 to 8 seconds and I never had any problems with the system at all. The Naz guys do have some problems but I never did on the listed side. I trade futures with IB now and until today never had a moments problem. Today I tried to execute a market order when Globex was down and the order 'Hung'. More annoying than anything else. As for the platform I am on an ISDN line and the connection has never gone down. IB has blinked once or twice but only for a second. Hope this helps, boots

To: TraderAlan who wrote (959)	1/11/2001 7:47:13 PM
From: dli	Read Replies (1) \| Respond to of 9012

Alan, NYSE executions at IB are excellent. Besides options that's the area where they really excel. NYSE orders go directly into SuperDOT so there's no additional layer like ISI which many other DA brokers go through. There is a disadvantage, though, with their handling of NYSE stop orders. Those are not exchange held but reside on IB's system until triggered which of course will put you at the end of the queue for an execution. From what I've been told this implementation is due to their institutional customers that don't want to tip their hand to the specialist. Dave

To: TraderAlan who wrote (959)	1/13/2001 1:32:51 PM
From: Dan Duchardt	Respond to of 9012

Alan, Other replies have given you a good response to your question. The only issue unique to IB that might affect some users is that IB will no longer allow opening an odd lot (<100 share) position on NYSE. This was mandated by NYSE based on a belief that IB customers were abusing NYSE's odd-lot limit order handling procedures. The only problem I have ever had with IB trading NYSE stocks is not an IB issue. I tend to only use limit orders, and often split the spread. These orders usually get filled, or posted within seconds, but I've had specialists hold these order for the full 30 seconds (or more) with no representation. It really depends on the stock. If your not fighting for that last tick on every trade, you should have few problems. IB's ECN access is quite good also, though INCA has been a bit slow lately. Mostly it's a matter of delays in confirmation rather than missed executions. Still, it's usually only a matter of several (5-10) seconds. ISLD, ARCA, BRUT, BTRD are usually faster. A potential problem with IB and ECNs is that the direct ECN links have problems at times, causing ECN quotes to be bad, and that causes the "Best Execution" routing algorithm to fail. The solution to that problem is to avoid using BE. Go direct to NYSE or an ECN. I have not heard what IB will do about NYSE's new automated limit order system. Dan