MOC order Cancelled with IB

Discussion in 'Retail Brokers' started by fredcom, Feb 5, 2006.

  1. fredcom



    Last friday, I submited a MOC order on AMLN at 10 AM for 126 shares and 5 others MOC on differents stocks.

    All the day, I saw it on the Pending page and Portfolio page in the TWS.

    Few seconds after 4:00 PM, my MOC order on AMLN was cancelled... and the 5 others were filled.

    The Volume at the close was big for AMLN, so I don't understand why this MOC order was cancelled.
    It's not the first time that's happened!

    So, is there a problem with IB, TWS, NAsdaq?
    Was my order really submitted by IB?
  2. ktm


    Your margin gets reset at 4pm from day to overnight. I have had orders that if executed, would have exceeded initial overnight. It seems that TWS has the capability to assess this and boot an order from time to time. I'm not saying this was the case, but it is something to consider if the cancellation is a mystery.
  3. You need to understand that all MOC orders on Naz stocks are "Best Efforts" The order might have been cancelled because the MM that the order was submitted to, decided not to fill the order.
  4. fredcom


    Hi KTM,
    It was not a problem of Margin because the MOC ordres were here to close positions, not to open an overnight position.
  5. fredcom


    Hi NvrSettLe,

    ok, I understand but , as I know on Nasdaq, if there is not enough shares to filled an order at the closing price, the MOC order can be executed at the next best bid/ask (it was on a video 1 year ago when the Nasdaq decided to have only 1 closing price...).

    So, why my order was cancelled and, for example, not executed with a slight slippage.
    The MOC order was submited at 10 AM, probably not the first but not the last one... why the MM decided to cancel this order transmitted (if so) by IB?
  6. =================

    Aldo would phone/email IB; thanks for posting.

    You said its happened before;
    has it been about 1 out of 6 failures on MOC ,??????????????????:cool:
  7. fredcom


    Hi murray t turtle,

    thanks for your reply.

    I opened my IB account about 7 month ago.
    On more than 400 MOC orders submited, only 5 or 6 were canceled... Not a lot, but...

    At each time the volume was good at the close and the MOC order submited early during the trading hours, like for AMLN.
    It's why I don't understand what's happened.