Im wondering if they couldnt handle the negative pricing, TWS couldnt show negative prices yesterday, but today it shows them. I wonder if their risk managment systems / auto liquidator were enabled for negative pricing either.
CL was $8000, when ES was $36000. That was about a month ago. Clearly IB didn't realise it could go negative.
Listen to the conference call go to the 25 minute mark https://edge.media-server.com/mmc/p/9eq4zqvf Pretty scary imo. they "still don't know what happened". cash settled losses WTI contract listed on ICE Europe some losses in the QM contract
IB TWS looked like it wasn’t programmed for negative prices yesterday. It went to 0.0 at 2:30 est when I think it stopped trading a day before the last trading day. Today when I thought it had stopped trading it did go negative but the chart was a real mess.
maybe IB can buy up a truckload of mortgage traunches to make it all back real fast, yeah, that's the ticket. was IB the sore thumb in this circus or did other brokers get nailed as well?
Maybe somebody did it on purpose to freeroll IB. Get a big long position at one broker, get a big short position at another broker, and then any big move either way makes one account go negative. Then you cash out the other account and move to Bermuda.