IB fill reporting DELAYED

Discussion in 'Retail Brokers' started by pretzel, Jun 4, 2003.

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  1. pretzel

    pretzel

    I had a sell order which was filled at about 10:21 but was not reported back to TWS immediately. So, not knowing my sell order was filled already, I just put in another sell order at market.

    Then, I got a phone call 2 HOURS later saying that I had a sell order which was filled but not reported and I have to accept the fill and I cant do anything about it.

    Does this happen with other brokers? Or, is this what I get for cheap commissions?

    pretzel
     
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  2. That's plain bullshit. If they can't get you a confirmation that it was indeed sold, than either IB or Globex should eat it.
     
  3. minimi

    minimi

    Same happened to me. May or may not be IB's problem. Market makers at exchanges (especially option exchanges) always shift the cost of their faults to customers. Bust filled orders or execute cancelled order, AND THEY CHARGE cancel FEES!!?!?? Meanwhile the market moves or does not moves, your order is not there while later print is actually always against us. How cannot it be? If it is in our favor, they will not let us know but take it themselves. Shame!!!!!!!!!!!! They have not soul or dignity.


    This is criminal. And there is no law.
     
  4. probably you didnt recieve a confirmation of the cancel before placing another order.. gotta watch that..

    -qwik
     
  5. speedy

    speedy

    Most of the professional firms eat this type of problem. In these times, if they won't be accomodating, some others will be. Unless you are a piker. :p
     
  6. Yes, it does. But some brokers will eat the loss to avoid unwanted publicity.
     
  7. Did you have an active SELL LMT order ?
    Was it still there on your TWS ´pending orders´ page ?
    Did you watch TWS ´account window´ in addition to ´execution window´ ?
     
  8. pretzel

    pretzel

    This is what happened:
    1. I have an active sell limit at 978.25
    2. the market moves past 978.25
    3. I dont have any indication on the TWS that my order was filled
    4. I thought my computer or TWS has a glitch
    5. I cancelled the order
    6. Sold another one at market.
    7. My position says 0
    8. The canceled order was stuck all the time - contract is 0 but the line did not disappear
    9. I got a phone call from IB saying I have a sell at 978.25 which was not reported ( 2 hours after the fill)
    10. The fill was added to my TWS another hour later


    pretzel
     
  9. pretzel,

    when a cancelled order gets stuck, I call IB helpdesk before
    I do anything else. It shouldn't happen on GLOBEX, I think,
    it is a quite "normal" phenomenon for stocks.
     
  10. Ok, I guess that you received status MAGENTA, when you tried to cancel your order. This means that there was no confirmation for your cancel request received from Globex. And the reason is simple: Your order had been filled already.

    # I think that IB should definitely change that status MAGENTA thing !
    # Show a popup window ´No orders found´ or something like that !
     
    #10     Jun 5, 2003
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