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

To: RockyBalboa who wrote (1068)	1/21/2001 10:40:51 PM
From: Dan Duchardt	Respond to of 9012

IS, The old TWS (and I expect the new Java version as well) has a mechanism for flagging a sell as a short. It is not necessary for retail customers to set this flag because the addition of intraday accounting enables IB to determine which sales are closing long positions and which are opening short positions. Commercial accounts have a version of the s/w that does not incorporate any account status, and so they need the short flag. IB will not accept a retail sell order whose size exceeds any long position. It first checks to see if you have a long position to close. If you do not, the sale is properly treated as a short and the short sales tick rules are enforced. Attempting to short sell at the bid on a downtick on Nasdaq leaves you without an execution. A nice feature of RDBK is that it will work a short sale for you by offering 1/16 above the bid down to your limit price. Dan