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Steve2
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     Posts: 750
Joined: 10/11/2012
Location: Annapolis, MD
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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.
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kmcintyre
 Elite
       Posts: 890
Joined: 10/11/2012
Location: Portland, OR
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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
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Steve2
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     Posts: 750
Joined: 10/11/2012
Location: Annapolis, MD
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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
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Barry Cohen
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Joined: 10/11/2012
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Good idea, Steve, I'll submit a request for it.
Keith, those would be questions for Garwood: 512-623-7444.
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kmcintyre
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       Posts: 890
Joined: 10/11/2012
Location: Portland, OR
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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
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Mark G
 Member
 Posts: 41
Joined: 10/11/2012
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I likewise called; immediate drop of call after the short phrase.
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Barry Cohen
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Joined: 10/11/2012
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Sorry, the number given to me was a typo. This is the correct number: 512-623-7774.
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