IB and PYPL IPO

B

Babak

To IB users: was anyone able to trade PayPal [PYPL] today? I ask because in the past IB would not allow you to trade an IPO on its first day.

Nothing to do with risk, just that they would ´forget´ to enter the symbol into the system so it would not be recognized as a valid one.

Anyway, thanks in advance.
 
I can't trade it either. I can pull up the symbol, but IB won't let me initiate a position. For some reason it thinks its a OTCBB stock.
 
def, could you PLEEEAAAASE get IB to enter IPOs into their system. These days there as so few that I just don´t understand what the problem is. Thanks.

I will write a letter to management but I doubt this will do any good as this problem has been a persistent one.
 
This problem with the IPO symbol being entered on day 1, but mistakenly flagged as OTCBB had happened before, with SYNA.

Looks like a trend.
 
most symbol entry is automated these days but some exceptions (like stocks moving from OTCBB) do get overlooked or haven't been automated yet. I'll contact the head of the group overseeing the addition of markets (it is a bigger job than you think since it is done on a global basis). If I am not mistaken the IPO calendar is readily available and assume can be automated.
 
Yes Def, the IPO calendar is readily available. So hopefully this issue can be dealt with. It is frustrating not to be able to trade the IPO's the day they open.

Thanks,

99
 
I have been trading with IB some time ago and I wrote numerous emails to helpdesk and letters to management about this. They just don't seem to get it :-(
 
I received an e-mail from IB's CIO explaining the situation (why it is happening) and assuring me that this will be looked into and resolved within two weeks. I appreciate the quick reply to my e-mail but will be watching the next IPO with my fingers crossed.
 
i too followed up on this and did some research on how do get the data electronically from one of the services and was told the guys in the states will automate the process. let me know if not ok.
 
Well two new IPOs came out on NYSE: ANT and WCI

Did anyone check to see if they were available through TWS or did anyone actually trade them?
 
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