Option trading for PA

CokeHead · Post by **CokeHead** » Wed Aug 20, 2008 1:02 pm

I want to be able to auto quote options on InteractiveB. Is there any software capable of doing that? Latency etc isnt a big issue as I will be quoting a few strikes at any given time. Thx.

weismat2 · Post by **weismat2** » Wed Aug 20, 2008 1:36 pm

I am not sure if you like the answer, but you should be able to do this with Orc. There could be an issue on the licensing side, but from a tech standpoint it is not a problem as IB is part of the ExNet network.

CokeHead · Post by **CokeHead** » Wed Aug 20, 2008 1:54 pm

Yeah thats what I thought. I use Orc right now at work (liquidator etc) for MM and its all right. I assume Orc Trader is going to be too expensive for my PA. I will give them a call and see how much I'll need to spend. thx for your help.

weismat2 · Post by **weismat2** » Wed Aug 20, 2008 9:14 pm

I remember seeing also some Visual Basic stuff - this is the cheaper route - but I am always concerned when hearing autoquoting and Excel in one setence, but newer versions from Excel with RTD links are quite fast and stable.

CokeHead · Post by **CokeHead** » Wed Aug 20, 2008 9:39 pm

orc is going to be approx USD 600-1500/pm. dont have a firm number yet because i just spoke to the tech staff i interact with and havent gotten in touch with sales. dont know how much extra edge spending that is going to give me. if you see anything about that vba stuff please let me know.

schmitty · Post by **schmitty** » Sun Aug 24, 2008 2:53 am

CokeHead wrote:

> I want to be able to auto quote options on InteractiveB [in my PA]

Forgive my ignorance, but what does "PA" mean? Does that mean "Personal Account?"

Has the button-click rule been repealed at IB? Last time I checked human intervention, in the form of a mouse click, is reqired for all orders. The API enforces this directly. If you opt for FIX connectivity you are (or were, last time I went through their FIX permissioning process) required to submit an affidavit specifying how your software system enforces this rule. IB does not enforce this too carefully but they can and will close your account if you are too blatant about it -- for example if you show a pattern of moving your quotes within a few milliseconds of a change in the bid/ask in the underlying.

Also, if you are autoquoting at IB from the buy-side, you will be racking up cancel fees.