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Hi all,
the following is some small print from the Interactive Brokers account
opening forms:
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"21. Displaying Orders: Customer authorizes IB to disclose Customer orders
to others, including IB's affiliates and customers; to disseminate quotes;
and to facilitate the execution of such orders. In this regard, Customer is
subject to ADDENDUM 5, "Customer Information Policies and Procedures."
Customer represents that Customer has read and understands the information
contained in ADDENDUM 5."
"22. Proprietary Trading: Customer authorizes IB to engage in proprietary
trading, and to execute the proprietary trades of its affiliates, even
though IB may simultaneously hold unexecuted Customer orders for the same
products which could be executed at the same price. In this regard, Customer
represents that Customer has read and understood ADDENDUM 5, "Customer
Information Policies and Procedures."
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Aren't these quite unusual provisions, allowing IB to disclose to others,
and even to front run, the customers' orders?
Regards,
Michael Suesserott
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