IB order rejected

Originally posted by PuffyGums
Better for who?
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Better for the new broker. :p


Fact is, the % of time IB has been down is quite small. Tiny.

There are these annoying problems, but when you consider they handle stocks + commodities + foreign you can't expect perfection.

PS, I'll leave room at the bottom for you all to enter in the names of the perfect brokers who never go down.


1) ______________________________

2) ______________________________
 
IB is just about never down, i can't recall one time it was down in the last month.

Sometime, during the first few minutes of trading or if there is a surge in volume, quotes will freeze for a few second, but orders seem to go thru fine during these episodes.
 
Anyone stuck in an IB position while the market crashes? I've almost had enough. Can't value contract only happens when the markets going against you. @#$@!#@!

Can't imagine trading with more than a few contracts in futures, and losing 20K in a day.
 
Happened to me yest. Couldn't put stop in. Didn't accept my order till high at eod of day. Was still waiting on phone. Mid 4 figure loss on that one . Really is a bunch of crap. They need to replace something
 
This cant value contract thing is getting to be a pain in the arse.

Thats how its supposed to work( or not work) only happens when you desperately need to close out a trade.:mad:
 
I was putting in orders to buy for nyse and got this message. The orders would light up as smart but never show nyse, so its NOT exclusively a globex problem.
 
CME’s Eagle Project to Launch in October

CHICAGO, July 10, 2002 – The Chicago Mercantile Exchange Inc. (CME) Board of Directors determined today to defer implementation of the exchange’s Eagle Project, which will permit electronic calendar spread trading, until October.

CME volume on the exchange’s GLOBEX® electronic trading platform has risen from more than 16 million contracts in the first quarter of 2001 to nearly 43 million in the second quarter of 2002. Today represented the third time in the last month in which more than one million CME contracts traded on the platform in a single day. During the trading surge, there were several instances of connectivity problems or erroneous reports that affected some users of the platform. We have identified the causes of the problems and either have corrected or are in the process of addressing them. The Board chose to defer Eagle’s implementation date in order to devote additional resources to ensure that GLOBEX will meet customer demands for performance and reliability in this high volume environment.

"The reliability of our GLOBEX electronic trading platform is our highest priority," said CME Chairman Terry Duffy. "Given the recent record volumes and the resulting stresses to the system, it is imperative that we prioritize our efforts to first ensure the continuous performance and efficiency of the platform before attempting to expand its use with a new major application. Accordingly, we have elected to delay the Eagle Project release for a short period of time in order to provide our customers with optimal and consistent GLOBEX performance."

"We will introduce our Eagle Project in October in an environment that provides our customers not only with new functionality to execute complex transactions electronically but also the benefits of the increased resources we are devoting in the short term to our reliability, capacity and infrastructure," said CME President and Chief Executive Officer Jim McNulty."

The Eagle facility will make it possible for the first time to trade calendar spreads electronically on GLOBEX. Calendar spreads are a popular and complex trading strategy in Eurodollar futures that currently can be executed only through open outcry trading.
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Must be serious problems if they even admit "connectivity problems". I wonder what´s really going on there. They had a specific timetable for migration to iLink FIX 4.2 and I wonder what IB is currently using to connect to Globex. And if there are problems with new connection type (iLink 4.2) or old connection type (FIX API 2.3). Any Info ?
 
Looks like IB is going to try and help out their (Globex traders I assume?) for the outage yesterday. Here is an email I received:

Yesterday afternoon at 3:17PM ET your trading facility with IB was temporarily
interrupted along with 460 other users. This interruption lasted between 2 minutes
and for some as long as 30 minutes.
We have traced the cause of this problem and took measures to forego an other
event triggered by the same conditions.
We would like to assume more of the burden of this interruption and demonstrate to
you our long term commitment to error free service. To this end, in early September,
we will credit your account (one account per user) with the first $XXX. - of your
commission expenses for the month of August.

Sincerely yours,

Thomas Peterffy
 
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