Globex is down on IB

Discussion in 'Index Futures' started by savage, May 21, 2002.

  1. Well that does sound fishy.
     
    #11     May 21, 2002
  2. savage

    savage

    Well, guess i'm done trading for the day. There is a sell order stuck in TWS and it won't cancel and therefore I can't enter another sell order. Apparently, from talking to customer service, when I changed the limit price in TWS, and because Globex was down, TWS transmitted a limit order at the market price instead of the price I entered. Am I shit out of luck here? It's not a big loss it just scares me.

    Savage
     
    #12     May 21, 2002
  3. monee

    monee

    Savage ... just a tip, don't let this tech problem get under your skin...*%@* happens.
    I've been there ,and when a tech problem causes hostility it will affect your trading.
    Just my 2 cents.
     
    #13     May 21, 2002
  4. Shut down and restart the TWS. That should clear the hanging orders.
     
    #14     May 21, 2002
  5. I agree with monee... It is never fun but ..it happens

    -Todd
     
    #15     May 21, 2002
  6. I'd like to figure out what happened as well. How can IB stick you with the fill at 1300 since that was NOT your order?

    Did you change the limit price while GLOBEX was out and IB didn't recognize the limit change? IB can only execute the order you gave them. Technical problems may prevent them from executing the order, but they have to stick with what you gave them. They can't change it. None of this makes sense. I think IB has to eat this loss. They cant take your limit order at price X and then fill it with some other order at price Y.

    Is IB saying that since the market passed thru the limit while GLOBEX was down, well give you this late fill at 1300? Well limit orders don't work like that. If you can't fill it at the limit price, it doesn't get filled.
     
    #16     May 21, 2002
  7. They don't HAVE to take anything. You signed the electronic trading agreement and that keeps them from being liable. However, I would agree that they should take this one.

    -Todd
     
    #17     May 21, 2002