IB Currency Conversion

Discussion in 'Forex' started by walterjennings, Jul 26, 2007.

  1. Heres a question for whoever has any experience doing this on IB.

    I wanted to permanently move some yen over to usd. I attempted to do this last week using IB's IDEAL, I now have an entry in my portfolio for the conversion amount with a unrealized P/L which has not gone away after 5 days. I asked IB's CS about this and they said it was correct and those entries will remain there forever, which is hard to believe.

    This means for the remainder of my stay with IB I will have these distracting 'positions' opened, with their unrealized P/L messing up my totals.

    Did I do the currency conversion correctly? Do they remain as opened positions?

  2. rayl


    Yea, that's the way it works....
  3. I hope they find a way to correct this.
  4. bszhang


    IB provide two entries for each currency pair, like "JPY.USD cash" and "USD.JPY cash". When you buy USD.JPY, your transaction will be in your USD portfolio like what you saw. Instead, you can sell short "JPY.USD cash" and it will put the JPY conversion in a separate line in "Account -> Market Value" table.
  5. i did short JPY.USD and it still appears as a line in the portfolio section :(
  6. Just got this from IB:

    26 July 2007
    31.Juli 07 Update Fuer Die Interfaces Eurex und Soffex

    Am 31. Juli 07 ist ein Update fuer die Interfaces Eurex und Soffex geplant. Daher kann IB am 31. Juli 07 keine Eurex und Soffex Options Ausuebungen akzeptieren.
    Aufgrund dieses Updates werden alle Eurex und Soffex Good Till Cancel (GTC) Auftraege nach Handelsschluss am 31. Juli 07 geloescht und am naechsten Tag vor Boerseneroeffnung wieder uebermittelt. Wir empfehlen daher am 1.
    August 07 Ihre Eurex und Soffex GTC Auftraege zu ueberpruefen um festzustellen ob Ihre Eurex und Soffex GTC Auftraege korrekt uebermittelt wurden.

    Interactive Brokers Customer Service
  7. uhh. mind translating if it has anything to do with the topic? :D
  8. Steve_IB

    Steve_IB Interactive Brokers

    Right click on the line, and select adjust position or average price. Adjust position to 0, or whatever you want it to be. It will then track that currency pair from there.
  9. Thanks. that solved the issue.
  10. sim03


    Apparently, there's no way to say "Good Till Cancel" in German. Schneller, pussycat, Tötung, Tötung!
    #10     Jul 27, 2007