IB , nobody's perfect

stock777 · Jan 22, 2009

Seems some error internally caused a 10 million dollar loss. (more than compensated by nice earnings) Corp action related, according to the Chairman.

Things happen, not too shocking.

Would be nice to know exactly what that error was.

This is according to the Conf call.

Can anyone from IB comment?

Businessman · Jan 22, 2009

Fat finger.

Some monkey at IB keyed in 1.2 cents instead of 1.2 dollars...

And his supervisor was on vacation at the time too...

JonathanMtl · Jan 22, 2009

They gave me 180$ once because the YM was down and I could not get out of a position.

Arjun1 · Jan 22, 2009

Fat finger errors cost traders billions every year.

http://www.google.com/search?q=fat+...s=org.mozilla:en-US:official&client=firefox-a

just21 · Jan 22, 2009

http://investors.interactivebrokers.com/download/Q4_08_earnings_release.pdf

IB knocked it out the park and the stock doesn't move?

DHOHHI · Jan 22, 2009

Quote from just21:

http://investors.interactivebrokers.com/download/Q4_08_earnings_release.pdf

IB knocked it out the park and the stock doesn't move?

They missed on both EPS and revenues. EPS was light 4 cents and they came up short by $15 million on revenues.

stock777 · Jan 22, 2009

Quote from Businessman:

Fat finger.

Some monkey at IB keyed in 1.2 cents instead of 1.2 dollars...

And his supervisor was on vacation at the time too...

I heard the comment. They would have had to sell 10,000 contracts to lose 10 million if they were mispriced by $100 each.

I could do the work, but does anyone know what stock this was?

zdreg · Jan 23, 2009

http://business.timesonline.co.uk/tol/business/markets/japan/article775136.ece

perhaps this was the fat finger trade of all times. it looks like the trade was not busted.