IB YM Execution not reported by TWS

Discussion in 'Interactive Brokers' started by Trader.NET, Dec 15, 2003.

  1. I've had some strange things happen when I'm filled in the middle changing a price (TWS lock up), but never a double fill. I wouldn't be too amused to find out hours later that I was filled on some trade that did not show up in the platform realtime.

    Anyone else have this experience?
     
    #31     Dec 15, 2003
  2. You did not transmit any new order with price 10045 ?
    Then there is no need to accept any fill at 10045.
     
    #32     Dec 16, 2003
  3. Did you report this bug to IB before ?
    Did you request an audit trail for any such incident ?
     
    #33     Dec 16, 2003
  4. No, I accepted the way it was since TWS did report all the fills. This time, TWS dropped the order entirely. I'm sure that IB's backend lost track of the order as well until hours later.

     
    #34     Dec 16, 2003
  5. Were these always YM trades ?
    Did it already happen with the a/c/e system or only with the new ecbot system (since Nov 24) ?
     
    #35     Dec 16, 2003
  6. No, it happened before in option trading.

     
    #36     Dec 16, 2003
  7. One day has passed. I have not heard a response on my email with reagards to the dropped order problem other than the refusal from IB Help personnel on breaking the trade.

    It turned out that many other traders had the same problems with the YM orders that disappeared from TWS and later were booked manually by IB after the market close.

    IB Help personnel told me that I should contact them after the order disappeared from TWS. However, at least one trader who emailed me about his YM trade problem was told there was no open order when he contacted IB on the missing open order. Later he got the execution report after the market close.

    Therefore, had I contacted IB immediately, it would not change the fact the error would still occur.

    The fault is at IB system. I hope they will cover their own mistakes gracefully.
     
    #37     Dec 17, 2003
  8. Someone from IB please explain as exact as possible what is:

    "order dropped off the screen"

    And quite obviously the orders did not only disappear from customer´s screen

    - but from IB helpdesk´s screens as well !

    :confused:
     
    #38     Dec 17, 2003
  9. One

    One

    TNET,

    I read your posts quickly and am still unsure whether you:

    a. modified your existing order from to purchase at 9 (to purchase at 5).

    b. entered a new order to purchase at 5.


    If the answer is a) and you had two fills, the error is in the software. While possible, I will note that every day I have working orders with modified prices filled in and ready to transmit, but have never had two fills (whether or not the order was filled at the original price, and regardless of timing of transmitting the modified order).

    If the answer is b) it seems there are two possibilities: the new order was transmitted without you hitting "T", which seems unlikely but would be a IB's responsiblity; or the order was transmitted (we can all forget clicking a mouse while trading) and either TWS did not report the fill that was reported to them by the exchange, or the exchange did not report the fill immediately (happens), both of which are your responsibility since you placed the order.

    Please let us know which of these scenarios or other is correct, and how your discussions with IB are resolved.

    By the way, a good rule of thumb is to liquidate any position in error, whether one lot or 250. In every discrepancy I have found brokers have based compensation on the price at the time the error was discovered.


    Good luck.
     
    #39     Dec 17, 2003
  10. One,

    As I indicated in my later post that my order disappeared from TWS and IB system (quote "dropped off the screen") after the last change I made at 10045. TWS showed me I was short and no standing open order so I entered a new order to cover at 10049. After the market close, IB found the missing order that was executed at 10045 after the market close.

    Obviously, I entered the order, but TWS and IB backend lost track of the order and caused me to enter a new order to cover my short.

    As told by another trader who had the same problem at the same day. He contacted IB for the missing open order and IB told him that he didn't have an open order, so he created a new order to complete his trade. Later on in the same manner his account was booked with the missing order execution after the market close.

    I have not heard anything from IB yet with regards to my emails to help@interactivebrokers.com for management review of my case.

     
    #40     Dec 17, 2003