I sent 20 nyse arca moc orders at 3:58pm today. 18 got filled but 2 (SVXY & UPRO) of them were cancelled right after 4pm. Called IB and was told they were cancelled by arca and no reason provided...both ticker have decent auction vol (vol > 200k). I never had such issue for arca moc orders at other brokers... is IB lying? or arca treats IB' moc order differently? so frustrating... anybody has similar exp with IB's arca moc order? really wanna find out the root cause. any input'd be appreciated
Ask IB to provide you exchange order ids and call exchange directly. Sometimes exchanges themselves give you a bogus answer, just reality. Please let us know how it goes.
ask ib to doing something is really painful...the guy from trade group just told me trade was cancelled and there was no reason provided... actually i just noticed uptick rule was applied to those two ticker (SVXY & UPRO) intrday and my MOC orders were sell. Anybody knows if MOC sell orders could be not-filled if uptick rule kicks in? trying to find some document about it...
The representative on the trade desk would have to research audit trails and obtain information from the exchange before being to provide a definitive answer to why an MOC order was cancelled which takes time as all they will see is a confirmation of the cancel (no fill). I suspect if you asked them to get back to you via ticket at a later time they would done further research into the reason. I believe you found the correct answer as the uptick rules are in effect https://www.sec.gov/investor/pubs/regsho.htm in particular: Due to continued concerns about failures to deliver, and to promote market stability and preserve investor confidence, the Commission has amended Regulation SHO several times since 2005 to eliminate certain exceptions, strengthen certain requirements and reintroduce the price test restriction.[5] As initially adopted, Regulation SHO included two major exceptions to the close-out requirement: the “grandfather” provision and the “options market maker” exception. Due to continued concerns about failures to deliver, and the fact that the Commission continued to observe certain securities with failure to deliver positions that were not being closed out under then existing requirements, in 2007 the Commission eliminated the “grandfather” provision and in 2008 the Commission eliminated the “options market maker” exception.
An MOC order is an unpriced order to buy or sell a security at the closing price and is guaranteed to receive an execution in the NYSE closing auction. https://www.nyse.com/article/nyse-closing-auction-insiders-guide
Good point, I was thinking LOC when I saw the uptick comment. Full details would have to be provided to check.
wrong for short sell when cb kicks in. nyse actually publishes a spreadsheet of list of symbols with cb applied @ ftp://ftp.nyxdata.com/NYSEGroupSSRCircuitBreakers/NYSEGroupSSRCircuitBreakers_2020/NYSEGroupSSRCircuitBreakers_202006/