Its only guaranteed if the thread is really stupid or it attracts a bunch of the really stupid. Although sometimes one is enough for a little sport. Dont make me tell you who 
How familiar is this at IB
- Thread starter ProgrammerGuy
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don't: obviously we rec'd or input a bad settlement price which was subsequently fixed. you weren't the only one who had a position in Korea that settled (I'd reply to your comment about things going against you that isn't it funny that not everyone who had a favorable mark contacted us to point out the error). I also believe that accounting checks in place would have caught the cash differential from the general clearing statements and things would have been rectified. I for one apologize for any inconvenience this caused but overall from what I've seen from other firms and what I'd heard I'd have to say that IB's accounting and accuracy in statements is exceptionally good.
In any event, I'm not an expert on the statements but let me try to understand this.... you had an error on your statement with an incorrect settlement price. The statement was then corrected and you're complaining that the statement showing the error is unavailable to download? Why would this upset you - especially since you knew a correction was going to take place.
I have him on ignore did he have something nasty to say about me?
No, my statement had all the Exercises and assignments. This was on the 13 Sep. The corrections were posted on the 19 Sep. So far so good, On the 19 Sep they CAO all the option assignments and exercises. Also so far so good. When I call up my statement from the 13 Sep guess what the Option assignments and exercises have disappeared.
That is what I mean by changing the statements retrospectively.
By the way I have had trouble with Korean close outs before. My point here is that the other markets have always been correct. So the problem is with the Korean futures?
Also, only the settlement on the futures was in error the options were right in the first place.
So things that were not in error were changed?
By the way I can't reconcile the statement now because the new entries are not exercises or assignments they seem to be Nett P/L, that is inclusive of the initial premium paid or earned plus the payoff at expiry.
My other point is because of the wrong settlement on the futures it is possible for a large locked position to show a "loss" that could then cause an automatic close of other positions because of margin overruns. Unlikely I know, but still possible.
By the way thanks for the reply, I was genuinely worried, REFCO is still large in my mind.
Okay lets have a good laugh, I posted two tickets at IB here are the responses
from operator one,
Yes, the Settlement price was incorrect.
Our appropriate department is aware of this issue and will correct it soon.
We apologized for this.
from operator two,
I cannot detect any miscalculations on your statement.
IB receives its closing prices from external data sources.
Any inaccurately marked positions would have their P&Ls corrected on subsequent statements.
and then
Operator one again.
As far as I understand, the 19th sept statement did not adjust the P&L for the difference between (233.86 and 233.45) *500000.
It only shows the adjustment withe the T. price but P/L figure had not been adjusted.
Are you referring to this error according to your explanations?
Christ what am I dealing with is there an error or not!
from operator one,
Yes, the Settlement price was incorrect.
Our appropriate department is aware of this issue and will correct it soon.
We apologized for this.
from operator two,
I cannot detect any miscalculations on your statement.
IB receives its closing prices from external data sources.
Any inaccurately marked positions would have their P&Ls corrected on subsequent statements.
and then
Operator one again.
As far as I understand, the 19th sept statement did not adjust the P&L for the difference between (233.86 and 233.45) *500000.
It only shows the adjustment withe the T. price but P/L figure had not been adjusted.
Are you referring to this error according to your explanations?
Christ what am I dealing with is there an error or not!
Actually, what I found is this. You know how when the music ends and the phone starts ringing, that's usually a sign that you're about to get a rep on the line? With IB it isn't necessarily the case. I was on another phone and on hold with IB and I noticed that the IB line switched from on hold to ringing... but then it just kept ringing, so I continued my other conversation. About two or three minutes later, someone picked up the phone. Now, it's unusual to be on hold with the phone actually ringing, but it doesn't make any difference in the end what you're listening to.
I have called them a bunch of times over the past two weeks (new account) and I have never been on hold for more than 5 minutes, which is a hell of a lot better than I had anticipated, given the nightmarish customer service stories I heard here over the years.
Again, maybe it's different in Canada, I don't know.
btw... if you have an actual beef which isn't related to a mistake on your part, it seems like this is the place to post it. The IB guys are probably available by PM and if you actually have a beef, your story will probably sound like it.