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IB: there is a problem with cancellations near the close.
- Thread starter Option Trader
- Start date
The rep claims there is no trace of the cancellation requests either day. I sure hope there is no issue of trust (they did know of the problem from the moment the chat started). The rep did indicate that if the order is held at the exchange at the time of the close then it's often not cancelled, rather held as a pending cancellation. Perhaps that is where error could occur, i.e. where the request to cancel anyway can't be honored at the time, that it didn't even acknowledge the request. When we did after hour cancellations with TOS we have seen a slip every so often as well in their system (albeit they have taken responsibility for things).Quote from Bitstream:
u can ask reps to check the trails for u if u didnt activated them before today and then tell em to send it to u. of course there may be an issue of trust here but if u dont tell the reps the problems and say that is just to store the data u may not raise questions and create possible conflicts.
Something very imp't to add, this is what the IB rep said in the chat:
"Well like I stated you may want to contact us when you submit a cancel request for an order you want to be certain the order is cancelled".
"Well like I stated you may want to contact us when you submit a cancel request for an order you want to be certain the order is cancelled".
Quote from Option Trader:
Something very imp't to add, this is what the IB rep said in the chat:
"Well like I stated you may want to contact us when you submit a cancel request for an order you want to be certain the order is cancelled".
As a previous poster said, go to Configure-->Order-->Auto-Remove Orders. Turn auto-remove orders off. Then when you cancel, you will be sure to see the red cancel confirmation. If you don't see the red cancel confirmation, then you can call IB about the order.
A) Fullproof? Does this confirmation mean it was removed from the exchange, or acknowledged by the IB system. Do you know about when that thread was?Quote from sprstpd:
As a previous poster said, go to Configure-->Order-->Auto-Remove Orders. Turn auto-remove orders off. Then when you cancel, you will be sure to see the red cancel confirmation. If you don't see the red cancel confirmation, then you can call IB about the order.
B) What about this idea?
Configure-->Global Configuration--> Sound Manager-->"Order Cancelled". It will get you a beap upon cancellation.
I believe if one would place an order now (after hours), when it's not at the exchange but by IB, you can cancel it after hours without a problem.
I believe the problem exist specifically when the order is held by the exchange (maybe NYSE only??), and then you cancel after hours (or close to the close) and your order can't be transmitted right away; it's held as a pending, about what happens then.
I believe the problem exist specifically when the order is held by the exchange (maybe NYSE only??), and then you cancel after hours (or close to the close) and your order can't be transmitted right away; it's held as a pending, about what happens then.