Im wondering if they couldnt handle the negative pricing, TWS couldnt show negative prices yesterday, but today it shows them. I wonder if their risk managment systems / auto liquidator were enabled for negative pricing either.
IB customers lose $88m trading WTI crude
- Thread starter ZBZB
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Im wondering if they couldnt handle the negative pricing, TWS couldnt show negative prices yesterday, but today it shows them. I wonder if their risk managment systems / auto liquidator were enabled for negative pricing either.
What was the crude margin?
CL was $8000, when ES was $36000.
That was about a month ago.
Clearly IB didn't realise it could go negative.
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Listen to the conference call
go to the 25 minute mark
https://edge.media-server.com/mmc/p/9eq4zqvf
Pretty scary imo. they "still don't know what happened". cash settled losses
WTI contract listed on ICE Europe
some losses in the QM contract
go to the 25 minute mark
https://edge.media-server.com/mmc/p/9eq4zqvf
Pretty scary imo. they "still don't know what happened". cash settled losses
WTI contract listed on ICE Europe
some losses in the QM contract
IB TWS looked like it wasn’t programmed for negative prices yesterday. It went to 0.0 at 2:30 est when I think it stopped trading a day before the last trading day. Today when I thought it had stopped trading it did go negative but the chart was a real mess.
maybe the ice Europe contract is illiquid and somebody got stuck.
Maybe somebody did it on purpose to freeroll IB. Get a big long position at one broker, get a big short position at another broker, and then any big move either way makes one account go negative. Then you cash out the other account and move to Bermuda.
you should write a book, lol
They had 15% of the open interest. so there's other ones that were burnt but probably not as bad.