Thessaloniki, Greece
Experience: Beginner
Platform: QTS
Broker: IB
Trading: Equities, NQ
Posts: 166 since May 2012
Thanks Given: 104
Thanks Received: 395
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Has anyone used D-quote orders? The idea seems to be that you get to participate in the closing auction through a floor broker, with the advantage being that you are not restricted in sending in/cancelling your MOC/LOC order by 3:45. Downside seems to be that you're simply not guaranteed a fill.
Activation requires contacting support, not sure if there are any minimums you must reach to be cleared to use it.
https://www.interactivebrokers.com/en/trading/orders/dquote.php?ib_entity=llc
Anyone got experience with d-quote orders? How does this work practically on the floor, why are the brokers there allowed to participate in the closing auction on both sides of the imbalance? How often can one expect to not get filled?
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