SEC Tick Size Pilot Program - The Chartist

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April 27, 2017 at 6:43 am #101637

Nick Radge
Keymaster

Well, we’re always learning something new, and here’s another one.

If you trade stocks beyond the Russell 1000 you may have orders reject with the error:

“The price does not conform to the minimum price variation …”

This occurs because the stock is within the SEC Tick Size Pilot Program which basically means all stocks need to be rounded to the nearest $0.05 or they’re rejected.

If this occurs we recommend creating a new watchlist and running secondary code over this watchlist that will ensure the LMT price is rounded down to the nearest $0.05.

Further details here:

https://ibkb.interactivebrokers.com/article/2752

April 27, 2017 at 8:09 am #106687

SaidBitar
Member

Yes i have this problem on the S&P1500
i check the rejected orders and i round them to 0.05$

April 27, 2017 at 9:09 am #106688

JulianCohen
Participant

As discussed in the chat tonight, here is my list of 5 cent stocks. I watch on a regular basis and will add any if I see them

WCC
NWS
OIS
FRGI
IIVI
SGMS
NTCT
AMAG
TIVO
LITE
IDCC
KEX

April 27, 2017 at 9:11 am #106689

Stephen James
Member

Create a separate watchlist for the 0.05 symbols and round the limit order price with tick size:-

Tick = IIf(InWatchList(insert watchlist number),0.05,0.01);

You could also use the InWatchListName function.
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