IB late on halt resumptions

Discussion in 'Retail Brokers' started by Toonces, Jan 14, 2004.

  1. Toonces

    Toonces

    Does anyone else send emails to IB to complain when they keep a stock halted after the Nasdaq has released it for trading? This has been going on for months. Every time I contact them, they say the programmers are 'working on it'. I would say that they keep a stock halted on average 1/2 hour after it resumes.

    Def, if you read this, can you talk to somebody? No one listens to me.
     
  2. VOLUME

    VOLUME

    Are you serious? That is ridiculous.
     
  3. alanm

    alanm

    Are you sure it's IB and not the ECNs themselves? My experience with listed stocks is that it's a totally manual process. Sometimes, I need to call the ECN to tell them the stock has been resumed to get them to release their halt.
     
  4. Toonces

    Toonces

    Yes it's IB. I know what you're referring to on the ECNs. I've called Island a few times because every other ECN released the stock, and they were late.

    Ever since IB started putting a red horizontal line highlighting a stock that's halted, this has been a problem. The line rarely goes away until several minutes after the halt is over. I don't know if 1/2 hour is accurate; sometimes they get it right, other times it takes over an hour to resume trading. If you try to trade it after it resumes (when the red line is still there), you get a message 'can't trade a halted stock'. Even if you add an additional row for an ECN.
     
  5. MRWSM

    MRWSM

    Unless doing futures or trading less than a few hundred shares, I don't see IB as such a great deal. Don't know what's up with this board's love for IB.
     
  6. Apparently there is no automated message sent out regarding the status of stocks. Just call Cust Svc and tell them to release the halt. Probably the traders know the status of halted stocks more quickly than the programmers or sys admin people.