Hello, I am not a CTS user anymore but continue to receive their mails, and I was stunned by the mail I received this morning : "CTS Users, first let me apologize for tonight's issues with T4. We experienced a bug in our software that was revising orders and unexpected fills were received. We will work with both users and firms to make sure all losses are covered but please handle the trade execution as CTS does not have the right to trade. Please send all information including firm, username, account number and trade related information regarding the trading loss to support@ctsfutures.com. We will handle these as quickly as possible. Also if you have not already done so please verify filled and working orders with your firm or the Exchanges. Thanks CTS" Any of you affected? CTS went in skynet mode and traded your account during the night?
I was trading when it happened but fortunately came out fine from it. Terrible timing for them on the day it decides to bug out. They had it fixed 45 minutes after the open on Sunday. What was going on was T4by itself would move your trade to the bid/ask, even if you had your limit price far away. I can only imagine the issues this caused with how markets opened last night.
Damn...This kind of issue can blow my account, I have armies of non-marketable orders at any given time. Did CTS moved orders to the B/A spread making them marketable or simply moving buy orders to the bid and sell orders to the ask? Huge difference even if both must have resulted in a litany of unwanted fills... I guess CTS is talking about covering losses because they haven't seen the bill yet. My hats off to them if they do though...
For me personally, any limit order i put in during this time would soon after be revised to join the bid/ask. My limit orders did not become market orders. I don't know if this happened to stop orders, though it is possible, because I refused to put in a stop order after I saw that happen.
Well, I had no old orders so I can't comment on that. I would suspect that any limit GTCs would get moved though but that is pure speculation. My limit orders did initially get set at the price I wanted and then would be moved afterwards.
The bug also affected GTC orders, I had a couple of orders that were executed... As Maverick74 mentioned, they offer to cover the losses so we will see if they actually do it.
"My word is my bond"...until they put a price on the calamity and then all that counts is the software usage agreement you signed when creating an account. I hope for you guys they actually do.