Did anyone put a trade on when IB said they had disabled your account from trading? Apaprently the message went to all users and the phone number of the compliance department was engaged. I was worried for a bit, thought market had moved.
Somebody should ask IB about this during the chat today. This bulletin scared me half to death...:eek:
there is at least one report of orders getting killed due to this. a good thing to ask about, indeed!
That's one of the mean market eliminates traders. In general - I don't speak about this particular case - remember that if in 1929 there was law forbidding brokers to trade for their own interests, it is not the case any more (the pretext given is liqudity providing which is true but has a vicious consequence of interest conflict). In Spain they even caught the President of the equivalent of SEC for complicity with a broker's firm that traded against their client interests for a prejudiced amount of 700 millions of euros if I remember the number. When there are conflict of interest moral dictate that it shouldn't be exploited but between moral and practice one must not be naïve. Even without that, technical breakdown are of course possible when volume surges during volatile market.
Interesting analysis. And the reason you are posting this in the thread about a clerical error is ...?