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Author: persistentone Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35361  
Subject: Re: IBKR Pushing Hard Into Bonds Date: 6/19/2010 11:58 PM
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That is exciting, and kudos to Interactive Brokers for pushing this.

Of course we still all need to push our legislators to turn the bond "market" into a *real* electronic marketplace. It's a disgrace that this closed box oligopoly has been allowed to rape the retail investor for so long.

Can you take a peek on your IB account and see when placing a buy order for a bond, do they give you a good until cancel option that would keep that order alive for at least 30 to 90 days? That by itself would be HUGE. I waste far too much time on illiquid bonds calling up the broker each day and waiting for them to call me back with lousy prices. It's a big win for my time to just decide the price I want to pay and automatically refresh my bid on all of the bond marketplaces each day, without it taking any of my time. If they do that, they have my business as of Monday.

I also wonder why don't the big retail brokers like Schwab, eTrade, Ameritrade, Interactive Brokers, Zions form their own bond marketplace and just bypass the Wall Street OTC bond monster entirely? It would be so remarkable if we could all see each other's limit orders for small lots, wouldn't it?
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