IB HSI futures position data was incorrect- now i'm screwed. any recourse?

Quote from Aok:

Def,

You're the IB asian guru:

Any word on when/if HSI is going to have overnight session?

With 1.5 billion Chinese, one or two of them must be night owl traders.

TIA
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The can't even trade and eat lunch at the same time, you think they can trade in their sleep?
 
According page 2 of this journal: Trading the HSI the HSI will reopen at 8:45pm ET ... that's about 5 hours from now, so think about what you're going to do when that happens.

Edit: Kiwi trader is another guy around here who is familiar with the indice and may be able to help you if you send him a PM.

GL
 
Quote from gangof4:

the HSI is the greatest futures market in the world to trade, imo.
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I'm starting to think that way. Little of that ES-like bot-driven chop. This is a contract that really moves.

HSI is the MMA of futures--if you don't know what you're doing, you can really get hurt.

I have been studying the HSI every night for the past year and have been trading demo, to get a feel for how it trades. I am not quite ready to put real money on the line, but I expect to within a month (after the time change next week).

I'd like to hear your views of the Hang Seng; I'd be happy to reciprocate.
 
Quote from traderNik:

It is beyond bizarre how circumstance can conspire in the exact way necessary to extract the maximum amount of pain. You seem to have a handle on the fact that this isn't IB's fault.
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i appreciate what you're saying, but i do not give IB a pass on this. there was clearly something wrong with their info- none of my orders even show an ID # during that period.

this is going to cost me minimum $20,000.

btw, they are still having problems with the HK server. i had a stop order take 90 seconds to execute today trading the YM (and NO!!!!!! it wasn't during a server reset!!!!!!).
 
Bad luck Go4. Sorry to hear.

MB, I stopped trading HSI late last year when it kept jumping off my ZLT dom. Too many big gaps for my comfort.

Its likely to gap down hard today unless Nikkei bounces up for some reason ... probably open below 23000 with the US lead.
 
Sorry about your loss.

Audit trail?

Quote from gangof4:

was short 9 contracts HSI last night right before the close- i was trading in 3 contract increments.

closed it with 3 different trades, the last closing trade being about 20 seconds before the close- or so i thought. IB booktrader still showed me short 3 contracts with no pending orders. i do NOT, EVER, hold positions overnight. so, confused, but having to relying on this data, i placed another trade to buy 3 contracts to go flat. the trade was executed and booktrader showed me as flat. until.........

a few seconds later, AFTER THE CLOSE, it then changes to show me long 3 contracts. i immediately called IB Europe- basically tough shit. it's tough to hedge a HSI position, especially since the STW (Taiwan) has not moved with the pack lately due to elections).

bottom line, i'm fucked. HSI could open up down 1000 point easy tonight= $20,000 loss due to fucked up data.

posting this mainly to vent, as i've already smashed my keyboard into a million pieces. losing $ due to my trading mistakes is one thing (as it happens, last night was my biggest loss ever BEFORE any of this shit), but relying on faulty data and getting fucked is pretty hard to swallow...
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There was a lot of action in the final seconds yesterday and it's possible we got a late confirm from the exchange clearing database. HHI for instance dropped 20 points over the last 2-3 seconds.

I'll check our audit logs to see if I can find anything but I suspect the delay was from the exchange handling a surge in orders/fills.
 
This has much more to do with the exchange than it does IB. IB has some of the better Asian networks in the business. They are used by Timberhill (and set up byTimberhill). Timberhills lifeblood is having secure feeds/connections and exchanges.

But the problem lies with the exchange in this case. I am willing to bet on it. If it makes you feel any better, Hong Kong is a lot better than they used to be. Asian exchanges still have a lot of work to do.

I would not fool with the Hang Seng ---within the last 5-10 minutes of the close. Too many damn orders flooding in and their software cannot handle it. Switching brokers will not solve the problem in this case.

Just my 2 cents. When trading with IB in Hong Kong---put their HK desk on speed dial and track your positions in the final last half hour carefully.

IMO, IB's booktrader is easy to screw up as well. Try a different front end----like Zerolinetrader or one of the others.
 
Its easy for me to say this, but why didnt you try to hedge?

You could have used Nikkei Futures as a 'better than nothing' hedge. NKD fell about 500 pts between the Europe Open and the US close
 
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