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GTS
Registered: Jun 2006
Posts: 2188 |
12-18-11 11:17 PM
Another futures market open, another "Currently Running On Back Up, Will Advise!" message from MBT and my positions are all screwed up (they have me short NQ and flat ES when I'm flat NQ and long ES) Oh yea, and my account balance is about $20k short right now.
Same thing last Friday morning until 8:30am when I guess they show up to work and fix it. They just aren't geared for futures trading, they only seem to try to get things right for regular trading hours.
Lame
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Catoosa
Registered: Sep 2001
Posts: 880 |
12-19-11 03:47 AM
I believe the back office problems are within MBTrading's clearing firm Pension. Pension does not seem to take their futures clearing serious. Pension has had the problems you described for over 2 years. There are also errors on their confirmations for futures transactions that have existed for more than a year. I have contacted MBTrading and Pension about these problems many times and still nothing gets fixed. Pension can best be described by their companies stock share price of only a dollar per share.
What I like best about MBTrading is their client universal account (stocks, futures, and options all within a single account) with unlimited client check writing on the account.
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southbeach4me
Registered: Jun 2009
Posts: 885 |
12-19-11 04:42 AM
GTS, don't you think its time to find another futures broker then?... or do you like to slowly torture yourself?
IB, Velocity, AMP Global Clearing( my broker), Mirus, etc..... very good ones.
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GTS
Registered: Jun 2006
Posts: 2188 |
12-19-11 12:54 PM
Quote from Catoosa:
I believe the back office problems are within MBTrading's clearing firm Pension. Pension does not seem to take their futures clearing serious. Pension has had the problems you described for over 2 years. There are also errors on their confirmations for futures transactions that have existed for more than a year. I have contacted MBTrading and Pension about these problems many times and still nothing gets fixed. Pension can best be described by their companies stock share price of only a dollar per share.
Catoosa, I agree, all of the problems appear to be related to Penson.
Quote from southbeach4me:
GTS, don't you think its time to find another futures broker then?... or do you like to slowly torture yourself?
IB, Velocity, AMP Global Clearing( my broker), Mirus, etc..... very good ones.
Actually I already have an IB account and actively use both. For redundancy I like having two different brokers and to avoid monthly data fees I trade both. I also have a non-trivial amount of time invested in C++ code I've written against the MBT API, while I've done some work with the IB TWS API as well I prefer the approach of the MBT API.
I must be an eternal optimist because I keep hoping that one day MBT will get its act together.
Anyway to update my original post, it appears they fixed the positions overnight so now my account reflects reality again, albeit with the wrong account balance (short by $5k now) but that is almost never correct unless I go completely flat and wait a day.
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MBT-Steve
MBT Trading
Registered: Apr 2005
Posts: 219 |
12-19-11 02:34 PM
GTS..... Last week Penson went through a back office conversion which caused MBT to use our backup file. There should have only been a very short period where positions and balances needed to be updated past our normal time.
Today (monday)Penson is using the standard file and all looks good. Please pvt msg me if your position or balance does not look correct and I will follow up. Again, everything is running normal for our file from Penson.
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