My e-mail to the above address concerning this issue was returned. The correct e-mail address is: ibmgmt@interactivebrokers.com
I shorted ZBU this morning. I wanted to put in a buy stop to cut my losses, and I also wanted to enter a profit taking buy order to get flat. I tried to enter these orders as OCO, but TWS would not accept the second buy order, EVEN THOUGH THEY ARE OCO. Guess I'll baby sit this one.
I have another long time beef. You cant trade ETF's with the MM's between 4 and 4:15 pm, even though they are still making markets. It's been like this since day 1. Why?
Received this e-mail response today after I sent them an e-mail last night: Dear Mr. ......, Thank you for your comments. We will adjust the close out schedule for long positions in the ACE US Treasury futures contracts so that it occurs during the day before the Exchange's "first notice" date. That is on the "first position" date. IB can not allow a long position after the close on first position date as such positions would have the potential to result in a delivery that we can not process. Thank you for your business. Thomas A. J. Frank, Ph.D. Executive Vice President Chief Information Officer Interactive Brokers LLC
I noticed this: "with the exception of certain currency futures contracts where physical delivery of the currency will be received*" and the note says: "* AUD, CAD, CHF, EUR, GBP, and HKD contracts will physically settle into cash." If I am long 1 6EU3 (EUR Sep03) into delivery and the final settlement is at 1.0900, do I receive EUR125000 into my account and have USD136250 deducted from my account? Does it work in reverse for short positions? Any other fees or issues? What is the timeline? What if I don't have enough requisite payment currency? Do I end up with a debit balance in that currency? How about offsetting positions like +1 6EU3 and -2 E7U3 (long 1 big and short 2 mini)? Can they now be carried through final settlement, since there is no resulting delivery?
Yes, that's how it works - and the reverse for short positions. The only other fee is the standard commission charged upon expiration. If you don't have enough currency then you will end up with a debit balance. The position +1 6EU3 and -2E7U3 should just offset on settlement.