OmniVest Forum OmniVest Forum
forums calendars search
today this week
 
register logon control panel Forum Rules
You are currently browsing as a guest.
You should logon to access more features
A Self-Moderated Community - ALL MEMBERS, PLEASE READ!
Vote for Members who contribute the most to your trading, and help us moderate content within the Forums.


  Current location        Thread information  
OmniVest User Forums
General OmniVest Feature Requests
TP: User Control of Order Type
Last Activity 12/14/2017 8:41 PM
6 replies, 883 viewings

Jump to page : 1
Now viewing page 1 [25 messages per page]
 
back reply
Printer friendly version

^ Top
Steve2

Elite
5001001002525
Posts: 750

Joined: 10/11/2012
Location: Annapolis, MD

User Profile
 
Subject : TP: User Control of Order Type
Posted : 9/30/2016 8:19 AM
Post #36525

As discussed elsewhere in the forum, IB will reject a MOO order if the order size is greater than 10% of the average daily volume of a symbol on the exchanges that IB uses to trade that symbol. TP automatically submits MOO orders prior to market open and market orders after market open.

Currently when this situation happens, the user must wait until after market open to have TP resubmit the order as a market order. This is inconvenient for the user and in some cases it may not be possible for the user to be available at market open to have TP resubmit the order.

This is a request to expand the right-click list on the TP Opening Orders tab to include options for specific order types. For example, one could replace the "Enable ALL For This Symbol" option with "Enable MKT Order For This Symbol" and "Enable MOO Order For This Symbol". This would allow the user to specify that a market order be submitted before market open and eliminate the need for the user to be available at market open to do this.

As an aside, 4F did not fix the problem that the reason for IB order cancellation is not being displayed in the TP Message field. The user is forced to dig it out of the IBG logs. Hopefully, this can get fixed in the next TP release.



^ Top
kmcintyre

Elite
500100100100252525
Posts: 890

Joined: 10/11/2012
Location: Portland, OR

User Profile
 
Subject : RE: TP: User Control of Order Type
Posted : 9/30/2016 9:03 AM
Post #36526 - In reply to #36525

Steve, you really seem to have a handle on the nuances of IB order processing. Thanks for your posts!

I'm wondering how this issue is effected by Garwood placing orders for Server Trade Processor (STP) clients. If Garwood is batching all our MOO ETF orders together, does this increase the chance of rejection? Or do brokers get special treatment by IB that (perhaps) might reduce the chance of rejection?

Or does Garwood place one order per STP account with IB asserting the same rejection rules as individual retail investor accounts?

Keith

^ Top
Steve2

Elite
5001001002525
Posts: 750

Joined: 10/11/2012
Location: Annapolis, MD

User Profile
 
Subject : RE: TP: User Control of Order Type
Posted : 9/30/2016 9:43 AM
Post #36528 - In reply to #36526

Hi Keith,

This is a question for Nirvana as they are the ones that have implemented the FIX server used to submit TP orders. TP controls the order type not the FIX server. I haven't heard that they have implemented any sort of order aggregation or metering but Barry would have to confirm.

Steve
^ Top
Barry Cohen

Icon
100050010010010025
Posts: 1844

Joined: 10/11/2012

User Profile
 
Subject : RE: TP: User Control of Order Type
Posted : 9/30/2016 10:13 AM
Post #36530 - In reply to #36526

Good idea, Steve, I'll submit a request for it.

Keith, those would be questions for Garwood: 512-623-7444.

^ Top
kmcintyre

Elite
500100100100252525
Posts: 890

Joined: 10/11/2012
Location: Portland, OR

User Profile
 
Subject : RE: TP: User Control of Order Type
Posted : 9/30/2016 12:35 PM
Post #36531 - In reply to #36525

Barry,

I called the number supplied 3 times. Each time I got a recording message "Hello Travis. Thanks for the call." Then after a short pause the call is dropped.

Keith

^ Top
Mark G

Member
25
Posts: 41

Joined: 10/11/2012

User Profile
 
Subject : RE: TP: User Control of Order Type
Posted : 9/30/2016 12:46 PM
Post #36532 - In reply to #36531

I likewise called; immediate drop of call after the short phrase.
^ Top
Barry Cohen

Icon
100050010010010025
Posts: 1844

Joined: 10/11/2012

User Profile
 
Subject : RE: TP: User Control of Order Type
Posted : 9/30/2016 3:13 PM
Post #36535 - In reply to #36531

Sorry, the number given to me was a typo. This is the correct number: 512-623-7774.
Jump to page : 1
Now viewing page 1 [25 messages per page]
back reply

Legend    Action      Notification  
Administrator
Forum Moderator
Registered User
Unregistered User
E-Mail this thread to a friend
(un)/Freeze thread |
Toggle e-mail notification


Nirvana Systems
For any problems or issues please contact our Webmaster at webmaster@nirvsys.com.