>>Turns out that I am the first MyTrack customer to actually step up to the plate.
I know that feeling. In the late 90s I have ordered to buy a stock (CACI, at that time a y2k play) at the opening price that had never been traded before in Germany. Because of some (taxing?) rules it was obligatory to get an unique registration number for each security on the order form which was given out by our 'SEC' two days later.
I got some real troubles then there because CACI had advanced substantially meanwhile and I got billed the full 'premium'. I ended up without a fill on that one.
You might want to give IB a call on your options trade. IB started out as a one person shop trading options. They were the first to introduce computers to get real time pricing in the 80's. And they recently introduced the Price Improvement Orders at the BOX. Or you could email Hank Camp at http://www.programtrading.com/hlc.htm. He's suppose to be one of the best at predicting options week. He could probably tell you exactly what to expect. If nothing else, he would probably like to hear about it just for his own info.
The Next Generation of Options Trading: Price Improvement Orders
For option orders routed to the Boston Options Exchange (BOX) you may now elect to participate in the BOX’s price improvement auction in pennies. All BOX directed price improvement orders are immediately sent from Interactive Brokers to the BOX order book, and when the terms allow, IB will evaluate it for inclusion in a price improvement auction based on price and volume priority. In the auction, your order will have priority over broker-dealer price improvement orders at the same price.
Interactive Brokers offers nine different price improvement orders, composed of one of three different order types and one of three auction strategies. The order type determines the price of your order and the auction strategy determines how a price improvement is applied. Enter your order price in penny increments, and your order price will be rounded to the nearest listed increment in favor of the order (bids and offers will continue to be listed in increments of $.05 or $.10) until the start of the auction. Should an auction start, your improvement amount will be the absolute difference of your order price in pennies and your rounded listed price. For a complete description and examples of option price improvement order types, http://www.interactivebrokers.com/php/tradingInfo/orders/priceImprovementOrder.php
As previously announced, Interactive Brokers' customers submitting Smart marketable options orders will have their orders routed to BOX when BOX is at the NBBO, and Interactive Brokers has information that there is an NBBO improvement order on the opposite side of the trade, your order will be exposed to a price improvement auction.
Trade Forex at Interbank Rates
We have recently launched IDEAL Pro which provides for the trading of Forex at Interbank spreads. Now IB customers have two alternatives for their FX needs: IDEAL which allows for currency conversions, and IDEAL Pro for the trading of forex at Interbank rates. With our Universal Account, you can trade cash forex and currency futures all from one place.
The minimum trade size of an IDEAL Pro trade is $250,000 or USD equivalent, and AUD, GBP, CAD, CHF, EUR, HKD, JPY, and USD currencies are available to trade. Trading hours for IDEAL Pro are from 03:00 to 17:00 ET, weekdays. To promote price transparency, as is the custom with all our products, we have separated our commission of .00002 of the trade value from the FX spread. Margin haircuts are the same as currently implemented for IDEAL.
To take advantage of IDEAL Pro, you must have forex trading permissions (the same permission as IDEAL) and subscribe to IDEAL Pro market data which is free. Trading permissions and market data subscriptions may be added through Account Management at any time and take effect immediately. To create a market data line in TWS, type the symbol of the currency to be traded, choose Cash and select IDEAL Pro for the trading currency (currency to be paid or received).
German Warrants and Frankfurt/Stuttgart Stock Exchanges
In our continuing effort to expand the range of products IB offers, we are pleased to announce the availability of German warrants and the trading of stocks and warrants on the Frankfurt Stock (FWB) and Stuttgart Stock (SWB) Exchanges. FWB/SWB trading hours are from 09:00-20:00 (CET) and commissions are higher than on Xetra due to the higher fees charged by these specialist exchanges. US resident customers may not trade warrants due to SEC restrictions.
To trade warrants, you must have permissions for warrants trading, which can be activated through Account Management and are immediately effective. To create a market data line, just type the warrant symbol, choose warrants, and select a routing destination. To trade on the FWB/SWB, you must subscribe to FWB/SWB market data and have German stock or warrants trading permissions.
In the future we will be introducing Smart Routing for German stocks and warrants.
Lower Futures Prices for CBOT Products
In conjunction with the lowering of fees charged by the Chicago Board of Trade, we have recently lowered our bundled prices for selected CBOT futures contracts. As an example, CBOT debt contracts are now priced at $1.61 a contract, including the recently introduced 2-year when-issued treasury contract (WI2). For a complete list of futures commissions, click here. As always, those customers who are enrolled in our unbundled futures commission program receive any benefit of exchange pricing changes immediately.
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