IB failure to execute opening orders

[groundhog]

So it took a full trading day - plus - to get an answer. Nice.

Hope it doesn't gap up on you tomorrow. Or did you pre-cover?

 

[Don Bright]

Quote from bestfriend:

Don, I think the problem is really with IB as the order received an acknowledgement . IB is saying the stock opened at a time different from that on the tape, and that I am not due a fill.

Again, it's only $8250, so I am sure IB will take responsibility for their system problems --NOT as in NOT EVER. I can't say this is their fault, but you have to rely on the back office people to represent your position at some point or you will be arbitrating everything.

Well, hmmm? ......if it was in fact a timing error, it should be easy enough to track....that's why I said "2 minutes" (the order has to be time stamped 2 minutes before the stock opens before Goldman will intervene)....

From what I know about IB, they are street savvy and reputable, and if it was their error, I would think they would offer some sort of restitution...if it wasn't, they will likely give a more detailed explanation.

Don

 

[bestfriend]

Two weeks later--


I never got a full explanation of what happened, but I did get the trade.

The same thing happened with an opening order the very next day, and it was small so I didn't bother to bring it up. It sure seems like it's not an Exchange issue. In the second case, I know it wasn't an issue of entering the order too close to the opening.