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HFT rules, order flow rules, account info sharing rules - are there any restrictions?

 

Hello,

Are there any restrictions in laws?OR?terms of use from IBKR on the following?

1- HFT restrictions - i.e. Submit/cancel/submit/cancel many times. Any IBKR terms of service restrict this or similar techniques? (I understand IBKR is not good for HFT but anything close to HFT or even slightly resembling it)
2- Are order flows (as Broker gets first hand knowledge even before sending orders to exchanges) restricted information that broker should not use to trade on themselves? any laws on this? are their employees restricted from seeing this?
3- Is individual account info (balance, trades, strategies...) restricted info for brokers? Are there any laws that prevent brokers and their employees from looking into accounts to see which trader did the best and then try to deduct their strategy from their trade patterns?

If you have any knowledge please post with link to laws or terms of use section specifically pertaining to practices above.

Thanks,
 



and



Hunter





On Saturday, February 6, 2021, 12:10:47 PM PST, <bruceb444@...> wrote:


Hello,

Are there any restrictions in laws?OR?terms of use from IBKR on the following?

1- HFT restrictions - i.e. Submit/cancel/submit/cancel many times. Any IBKR terms of service restrict this or similar techniques? (I understand IBKR is not good for HFT but anything close to HFT or even slightly resembling it)
2- Are order flows (as Broker gets first hand knowledge even before sending orders to exchanges) restricted information that broker should not use to trade on themselves? any laws on this? are their employees restricted from seeing this?
3- Is individual account info (balance, trades, strategies...) restricted info for brokers? Are there any laws that prevent brokers and their employees from looking into accounts to see which trader did the best and then try to deduct their strategy from their trade patterns?

If you have any knowledge please post with link to laws or terms of use section specifically pertaining to practices above.

Thanks,

 

U.S. Securities and Exchange Commission rules require all brokerage firms to make publicly available quarterly reports describing their order routing practices. The report listed below is intended to describe how and where customer orders are routed when customers use IB's Best Execution Order Routing System (or Best ECN routing option) rather than directing their order to a particular market center.

View the?.

Please click on the link below to access the most recent Broker-Dealer Order Routing Report:
 



We safeguard the confidentiality of your information in a number of ways. For example: We do not sell or license lists of our customers or the personal, nonpublic information that you provide to us.
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We restrict access to the personal, nonpublic information that you have shared with us to those IB employees, agents, and affiliates who need to know such information in connection with the services that IB or an IB affiliate provides to you.
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We maintain strict employment policies that prohibit employees who have access to your personal, nonpublic information from using or disclosing such information except for business purposes.
 

About HFT restrictions: there is a fee for cancelling orders through the API:

 

Thanks for the different point of view Hilmer.

According to the document if purchase of a security is not directed to a specific exchange and sent through SMART then no charges apply. This must also be true of IDEALPRO (forex) since I don't think you can direct forex to any exchange (no exchange exists anyway).

I also understand that If the same practice is done (place order, modify, cancel, place order, modify, modify, modify, cancel,....) on TWS they do not charge any fees - correct?

Thanks,


On Mon, Feb 8, 2021 at 01:15 AM, Hilmar wrote:
About HFT restrictions: there is a fee for cancelling orders through the API:

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