IB: No access to the floor

Discussion in 'Retail Brokers' started by sharp10, Oct 3, 2006.

  1. sharp10


    Could someone tell me how a company as big as IB does not provide access to the floor when the CBOT goes down?

    Did anyone got stuck with anything this morning?

  2. e-miNY


    I think they have floor access. If u are stuck, i guess u are not too familiar with ur broker.
  3. sharp10


    Well, I did call them and they told me they cannot send orders down to the pit.
  4. sharp10


    I guess I should have been more specific. They don't have access for the emini Dow pit.
  5. This is not IB's problem to resolve. It is your responsibility as a trader to make sure you have a backup broker and/or contingency plan for this kind of outage. Either using DIA to offset dow futures, some of the bond etfs to offset bond futures, etc.

    Yes it does really suck when this type of thing occurs, and since IB is missing commissions when you can't trade it I'm sure they want to get it working too, but you shouldn't be playing with ECBOT unless you know how to handle the situation where you lose access.

    Also you're making nightly backups of your trading machine, right?
  6. sharp10


    I do make back ups. I just found it odd they couldn't get down to the pit for the Dow. That is all.
    Thanks for your inputs.
  7. Surdo


    The dow mini trades ONLY electronically.
    You would have to trade The "BIG" $25 dow to hedge, or hedge with DIA.

    I agree, anybody that trades electronically without a second broker for backup PIT access, will one day get burned.
  8. sharp10


  9. e-miNY


    Big dow is electronic too. I think u are referring to the $10 Dow.
    #10     Oct 3, 2006