Its acting like its about to go down again, seems to be freezing up, volume sucks, even before the outage.
US Futures Order Handling Rules Please note the following rules for stop, stop-limit and other orders on the US futures exchanges. CBOT (E-CBOT) Stop-Limit Orders: Stop-Limit orders are not supported by the E-CBOT. Interactive Brokers provides customers with simulated stop-limit orders. Orders can be placed at anytime during trading hours. Stop Orders: Stop orders are native to ECBOT and can be placed at any time during trading hours. Please note the following restrictions placed by ECBOT: ECBOT defines valid ranges for trade executions based on their definition of âfair market valueâ. Trades outside these ranges will be cancelled by ECBOT and they impose a severe $1000 USD per event penalty and these penalties can increase to $5000 per event. Customers must be aware that orders submitted at prices outside the ECBOTâs allowed ranges will generate a mistrade penalty and these will be passed on to the customer. Closed daily from 17:00 - 20:40 and 23:40 - 00:15 ET for CBOT/IB daily maintenance. Day orders will be cancelled at 17:00 ET. GTC and GTD orders cannot be cancelled from 23:40 - 00:15 ET. CME (GLOBEX) Stop Orders: Stop orders are not supported by GLOBEX. Interactive Brokers provides customers with simulated stop orders. Simulated stop orders will only trigger during regular trading hours unless configured by the customer. Regular trading hours are from 9:30 a.m. to 4:00 p.m. New York time. In order to be able to place stop orders outside of regular trading hours, go to the TWS, select Configure >> Order >> Stop Trigger Method. Under "GLOBEX Orders Time Restriction" you may choose to allow stop orders to trigger outside of regular trading hours. Stop-Limit Orders: Stop-Limit orders are native to GLOBEX and can be placed at anytime during trading hours. Please note the following restrictions placed by GLOBEX. For Sell Stop-Limit Orders, the limit price must be <= stop price (aux. price) For Buy Stop-Limit Orders, the limit price must be >= stop price (aux. price)
Actually I heard its the cbot pit traders especially those damn oat traders that are pulling the plug on ecbot they have recently joined together with cme pit traders and when everything moves to globex I hear they are going to shut it down for good! And who says those guys down in the pits don't still have a lot of clout with the exchange!
I don't understand the problem. There's a 10x pit traded Dow contract and every other CBOT product is also traded open outcry RTH. Pick up a phone. I too got caught. I was short ZN and long CZ both of which re-opened against me. In fact neither has traded pre-outage prices since. I still had an out though, I just didn't use it.......
I got message said CBOT cancel all orders until futher notice. Then I call my broker and they told me to hedge with DJ (pit) contract so I did. After market open I closed DJ at the market and it took good 2m for the pit order to get execute. The ratio is 2 YM for 1 DJ.