IB Executions during the outage

Discussion in 'Interactive Brokers' started by chinook, Aug 14, 2003.

  1. #12     Aug 15, 2003
  2. IB "closed" my long position at 15:19 EST today when the market hit my stop order price. This was supposed execute 23 hours ago at ACE since it was a native order residing at ACE.

    I think IB might be offsetting customers positions, matching them internally. I have no explanation otherwise why this occured exactly at my old stop price.

    I wonder what would have happened if YM gapped down and traded 100-200 points below where my stop was supposed to execute. Would I still have gotten a fair price?
     
    #13     Aug 15, 2003
  3.  
    #14     Aug 15, 2003
  4. But when I talked to one of the IB reps, I was told that they have a list of accounts with unreported ACE executions. My account was not in that list!

    Here's a brief summary of what happened after I was long YM on 8/14:

    1) Placed a native sell stop order at 9287 at ACE around 16:00 EST about 10 minutes before outage.

    2) I was still long YM around 23:00 when I was able to log back into my account.

    3) After some e-mail exchanges with IB customer support (which led to no resolutions at that time), my long YM was gone from my account. The account balance reflected an execution price of about 9283 which is reasonable slippage. But I didn't see the final trade in the executions list.

    4) Went to bed happy!

    5) 8/15 Woke up and first thing in the morning logged into my account. YM was back in my account! I couldn't believe my eyes.

    6) Talked to several IB reps while YM fluctuated around my old stop price. I was told that they were still having problems with accessing account details.

    7) My long position was sold at 12:20pm at 9287 at the exact price of my original stop and the market was also trading at 9287 at that time.

    At the end, I got my fair execution but it was a bitter experience.
     
    #15     Aug 15, 2003
  5. JT47319

    JT47319

    Was informed late in the day that my limit buy to cover at 9175 had been filled. Nice 100 point gainer.

    But for half the day, if going simply be the TWS, I had two YM short contracts. If I had chosen to cover both contracts before receiving their confirmation e-mail, I would, at the end of the day, be long one contract.
     
    #16     Aug 15, 2003