IB didn't execute my stop, maybe they reinstated rule "last is not last"

Discussion in 'Order Execution' started by mon, Jul 29, 2009.

  1. mon


    I am going to be watching my IB executions very closely

    IB stated about 4-5 months ago they have removed 3 requirements for stop to be executed which causes slippage

    my stop didn't execute today when LAST TRADED price touched it in YM

    Lets hope this is just one freak occurrence and that IB didn't bring back the silliest rules for definition of "LAST" that I have ever seen in this industry
  2. Bob111


    check your audit file.
  3. mon


    ok I found wed audit file, am going through it now

    what am I looking for ? if you want to cut down my search
  4. mon


    all I see in my audit file is that order was placed
  5. Bob111


    is it market,limit (if limit-what is the price), is it been accepted,routed to proper exchange? things like that. don't know,if trigger method is in audit file. i'm not familiar with YM(i trade stocks only,with very big stops,which i prefer execute manually). also-call to trading desk, they may give you some explanation. option 2 on 800 number
  6. mon


    it was a stop order that turns market order, its been routed and everything is fine, except it didn't execute
    I won't bother calling IB for this one occurrence,

    second time this happens I will give them hell on the phone

    I day trade futures so I will soon find out if this was FLUKE or the NORM
  7. mon


    even IB is allowed mistakes but if this is return of 3 requirements to define LAST TRADED price

    there will be hell to pay
  8. You shouldn't let this go without an explanation from IB.

    Here is what IB says about stop orders:

    "Stop orders are triggered when the market trades at or through the stop price (depending upon trigger method, the default for non-NASDAQ listed stock is last price), and then a market order is transmitted to the exchange. "

    If IB stop orders aren't working as described IB needs to explain why or fix the problem.
  9. cstfx


    Was it touched or traded thru?
  10. it shouldnt matter if he has a stop market order, if that price is printed his stop should execute.

    #10     Jul 29, 2009