No. of Recommendations: 0
I'm going to open up an account there in any case, but you have to understand that they are limited in what they can do here as long as they rely on Wall Street banks to quote the bid and ask. As retaliation for attempting to open up the market, those banks can simply refuse to give IB a Bid or Ask, thereby shutting them out of the market for some or many bonds.

What would be interesting would be a way for the retail brokers to share each others bond bid and asks directly on a true electronic marketplace, and then to do the settlement directly to DTCC (or whoever handles settlement for bonds). If the small lot buyers and sellers could see each other without having to go through the Wall Street black box, on a limit order basis, with full transparency of a queue of bids and asks on each bond, it would be the beginning of the end for the Wall Street bond oligopoly.

I won't hold my breath, but what you describe is an important improvement.
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