I dont think so. I cant place any futures trades and account positions etc are still not updating. Its been 3 hours! Edit, Account status has been updated and it seems OK now.
Tomorrow I'll cancel my account! These clowns were not able to send an email nor show an alert in the navigator software. In 7 years I never had a problem with IB!
Hi All, Like all of you, I was affected for the better part of today. I had a sell order go Live (around 10:15 CST), but never was executed (the start of the crash). Web site down, phones don't answer etc. After three hours I got through to the trading desk. I sold the stock then, but it had dropped .40 more than where I originally tried to sell it at three hours earlier. They credited my account the difference plus refunded the commission costs, so the did the right thing by me. This was the first major problems I've experienced with them, and they made it up to me, so I can't complain at all! Having worked in the IT field for years, I have been in their shoes. This stuff happens. As long as it isn't often, I am a happy customer! Peabo
Once you determine MBT's 'open order' policy (where the limit order 'sits') with respect to your particular trading vehicle (equities, futs, forex, etc.) all that remains is to know the particular exchange (NASDAQ, NYSE, CBOT, CME, etc.) policy with respect to 'no heartbeat' destinations (brokerage). Again, I can empathize with the frustration levels experienced today. Knowing MBT's commitment to technology and service excellence, I feel confident such circumstances as today will continue to be an increasingly rare event. Good trading to you all. - Spydertrader
Actually i would have made a loss if i traded today so must thank to the outage But of course, if it is a gain, then it will be different story, I'll be mad. Anyway, really hope MB do something about this seriously, if it happen again within short time frame, then lots of customers will be lost
Here is a letter that was sent to our customers from our CEO. I promised that I would respond with an analysis so I figured it would be appropriate to post it here.................. Dear Valued Client, As the CEO of MB Trading, I have had the honor of leading this company to prominence within the electronic brokerage industry. MB Trading has led the charge in technology innovation and service over the last decade. It is because of this simple fact that makes days such as today so difficult to face. First let me assure you that MB Trading always invest heavily in hardware and infrastructure as it pertains to our technology. As such, we maintain equipment that provides us a level of functional reliability that has always served us and our clients well. MB Trading has built a reputation of facing technology outages regardless of extent with the same high level of dedication. We know that no outage of any size is acceptable. However, we also understand that technology outages in our industry are not avoidable. Today's outage was due to an electrical circuit failure. This electrical circuit maintained half of the switches for our network. Though our core equipment (routers, switches and servers) were not affected, the switches which maintain our internet connectivity to the "outside world" as well as Phone system were forced offline. This equipment is further maintained by UPS backup power, however the time between first alert and UPS power reserve was insufficient to prevent interruption. We attempted to restore the circuit twice, each time coming up momentarily and then failing. We then switched and load balanced the switches electrical load across new circuits. This was sufficient to restore full power and stability to the equipment. Our analysis of the failure exposed a faulty breaker in a sub panel feeding these circuits. Though we pride ourselves on the redundancy built into the hardware and software of our network, the particular Cisco switches that we use for this segment are not dual power supplied. As such, a single point of failure was discovered that had not previously been known. Our changes were as follows and have already been implemented: -Repair faulty breakers -Move peripheral Cisco switches across multiple breakers and multiple sub panels -Add additional circuits to switch stack for added redundancy As a final thought, we are considering the removal of all "single power supply" Cisco equipment to the extent possible. We apologize for the inconvenience today's service interruption may have caused, and we very much appreciate your understanding and support. Good Trading, Ross Ditlove CEO MB Trading
Seems that single point of failure discovered and immediate action is carried out, however, any form of compensation like free commission for 50 trades would be helpful to put off the extreme frustrations and fire felt by the customers, especially those who made a loss, but of course, this is just one way of showing goodwill besides many
Right..... Make it as a Christmas present for us all. LOL.........Sarcasm ........Sorry will not happen......It would be good if it did though