Anyone else w/open position due 2 zero notification from IB HKFE closing 4 typhoon?
- Thread starter gangof4
- Start date
Even I like IB very much, but sorry, I've to say you were definitely late in notifying its clients in the above situation. The fact is during lunch time the Observatory gave notice that No. 8 typhoon signal would be hoisted before 3:30pm and the HKEX immediately announced that in accordance with its rule, trading would be ceased within 15 mins after No. 8 typhoon signal was announced.
At about 2:30 pm No. 8 typhoon signal was hoisted and I learnt it almost immediately from local radio, cable tv plus one local data provider, etnet. I received IB's notice only at 2:46pm(according to its message stamp chop), by that time the market was already closed.
I think this is a good learning experience for IB.
At about 2:30 pm No. 8 typhoon signal was hoisted and I learnt it almost immediately from local radio, cable tv plus one local data provider, etnet. I received IB's notice only at 2:46pm(according to its message stamp chop), by that time the market was already closed.
I think this is a good learning experience for IB.
I was pleased not to have a valid signal when the exchange went down.
If you want to hedge HSI do it with ES ... just estimate the risk of a move on HSI from a corresponding ES move (use recent gaps to scale it). If there is a big HSI gap it will be because of the US markets ... nothing else matters.
If you want to hedge HSI do it with ES ... just estimate the risk of a move on HSI from a corresponding ES move (use recent gaps to scale it). If there is a big HSI gap it will be because of the US markets ... nothing else matters.
I was also shocked that when I received the IB notification ( 02:46PM), the trade had already been terminated (at 02:45PM). Since IB has an office in Hong Kong, I expect them to be better informed of the local weather information through radio or even by simply watching outside the window. I mean, if it is very cloudy or raining already, then it will be natural to pay more attention to weather information. On the other hand, IB customers, say I am in sunny hot summer in Shanghai, not even a piece of cloud in the sky, I do not have the slightest idea that HK is having a typhoon running on its head. Actually this mornig I looked at the HK observatory site, they said a typhoon is approaching, but that was still about 600-800 kms away from HK, I thought then, "Okey, so HK will have a typhoon this weekend, but today's( Friday) trading session probably will be Okey . " how could they hoist typhoon signal 8 just several hours later ?
This typhoon is running very fast. Probably the HK observatory had underestimated its impact on HK. But IB HK office, next time a typhoon approach, please keep more attention to the weather forcast RADIO during the day ( RADIO will definately respond much faster than online weather information) and make a notification to customers more quickly than this time. It is currently a very volatile market , HSI gapped 680 points lower today and HHI gapped about 500 points lower today, if you did not have time to close at least some of the positions before close of the trade, holding bigger-than-normal size of positions overnight ( oh, I mean , overweekend ) will definately be a crucial psychology test .
This typhoon is running very fast. Probably the HK observatory had underestimated its impact on HK. But IB HK office, next time a typhoon approach, please keep more attention to the weather forcast RADIO during the day ( RADIO will definately respond much faster than online weather information) and make a notification to customers more quickly than this time. It is currently a very volatile market , HSI gapped 680 points lower today and HHI gapped about 500 points lower today, if you did not have time to close at least some of the positions before close of the trade, holding bigger-than-normal size of positions overnight ( oh, I mean , overweekend ) will definately be a crucial psychology test .
HK is an island based around Sea transport. They may be worried about problems with internet infrastructure in ducts. They will certainly be concerned about how their staff get home (ferry's being cancelled).
HK is HK. Where else do we get the pleasure of a 2 hour lunch break.
HK is HK. Where else do we get the pleasure of a 2 hour lunch break.