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RE: IB fined $230,000 by NASD



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Trading Reference Links

for "mis-programming" ?

OMIGOSH, If this applied to Omega Research/Tradestation Technologies,
Bill Cruz would be in jail !!!


> -----Original Message-----
> From: Frank Richardson [mailto:frankr@xxxxxxxxxxxxxxxx]
> Sent: Wednesday, June 12, 2002 1:01 PM
> To: TaoOfDow
> Cc: omega-list@xxxxxxxxxx
> Subject: IB fined $230,000 by NASD
>
>
>
> SmartAss Interactive Brokers fined $230,000 by NASD in April 2002
> for multiple violations . . .
>
> Full article pg. 20, Active Trader, July 2002 issue
>
> As they say, if the price is that low ($4.80 per RT) it's
> probably too good to be true --- next time the IB network goes
> down and you have to try to call in by phone to check your order
> while the market is going against you . . . and IB charges you
> $30 for phone calls . . . what actual commissions are you paying then ????
>
>
> Frank
>
>
>
> n Sun, 09 Jun 2002 18:30:40 -0400
>  TaoOfDow <TaoOfDow@xxxxxxxxxxxxxx> wrote:
> > IB's entry-order program and something like $4.80/RT commission
> rates are quite
> > favorable, for sure.  Yet, I don't recall a single
> communication I had with them
> > (by E-mail, as I was virtually unable to get them by phone) where their
> > representative wasn't rude, sarcastic, off-putting etc.  I
> finally decided life
> > was too short to deal with that and closed my account.  I'm
> happy to pay not
> > that much more for civility --- civility is an understatement
> --- customer
> > service reps who appear glad to have my business and whose
> behavior is congruent
> > with that.
> >
> > Kent Rollins wrote:
> >
> > > There's a new list in town.  For those who don't know,
> Interactive Brokers
> > > (IB) is a broker that allows stocks and futures trading with very low
> > > commissions and several options for programmable trading
> API's.  They have
> > > mostly positive reviews from the posts I've seen with the one
> consistent
> > > exception being that it is next to impossible to get thru to
> them on the
> > > telephone during market hours.  They appear to be aggressive
> in terms of
> > > creating new trading options for customers.
> > >
> > > Kent
> > >
> > > ----- Original Message -----
> > > From: "marinindextrader" <marinindextrader@xxxxxxxxx>
> > > To: <ats-forum@xxxxxxxxxxxxxxx>
> > > Sent: Saturday, June 08, 2002 7:44 PM
> > > Subject: [ats-forum] New IB TWS API Use Group formed
> > >
> > > For those interested in joining or contributing, there is a new use
> > > group dedicated to Interactive Brokers API.
> > >
> > > Exchange code and ideas on the nuts an bolts of this API, or vent
> > >
> > > We are not an ATS forum. This forum serves mightely in that capacity.
> > >
> > > We are an API specific group. Newbies to programing welcome.
> > > Sample files posted with source code on how to connect.
> > >
> > > http://groups.yahoo.com/group/twsapi/
> > >
> > > Scott
> > > Owner
>