Interactive Brokers overfill protection

Hello,

on this page:

https://www.multicharts.com/trading-sof ... er_Profile

it is mentioned that:
" Overfill Protection: Turn on to send only one order of an OCO group to the exchange. Other orders of this OCO groups will be held and monitored in TWS. If this option is disabled all orders of the OCO group are sent to the BROKER. "

I am wondering if this statement is correct, or if the last sentence should say:
" If this option is disabled all orders of the OCO group are sent to the EXCHANGE. "

Thanks a lot
moses

Hello moses,

Thank you for the observation. The line should say:

" If this option is disabled all orders of the OCO group are sent to the EXCHANGE. "

I have updated the wiki article.

Hi.

So if OP is on, and only one of the OCO orders is sent to the Exchange, which one is it?

Hi.
So if OP is on, and only one of the OCO orders is sent to the Exchange, which one is it?

Per IB support - "the one that we believe has the best chance of filling".

Hmmm. Not very specific are they?

Thanks for checking with IB Henry.

Hmmm. Not very specific are they?

It is exactly what the say - the order with the highest probability of fill is sent. If you assume price distribution is normal or lognormal, it is usually the order that is closest to the market. One broker that I know will cancel one exit and send the other exit based on how the market price is dynamically changing. Such cancellations get interesting in high volatility conditions.