WMGI ipo was not available through IB (system wouldnt recognize symbol!) why? are they going to fix this? when?
this happened again with MDTH today!! def can you please look into this? for some reason IB doesn't stay on top of IPOs to enter them into the system. As a result the TWS doesn't recognize the symbol when it is entered. really annoying!!
babak, new issues need to be entered into a database and out of the literally thousands of new markets added each day (40+ global exchanges and all the associated options strikes, splits, etc) things can be missed. Most of the process is automated but things do get overlooked. If there is an IPO coming up that you want to participate trading on the first day, I'd suggest sending an e-mail to the help desk with the details (stock name, symbol, date of IPO). This hopefully will help getting it into the system on time.
def, thanks for the suggestion. I will e-mail when interested the day before an IPO. I hope that will be enough. However, this is not the heady days of 99 with IPOs coming out the wazoo. Its a trickle. One, maybe two a day. Don't believe it is too much to ask that IB keep up.