IB : Unreported Execution

G

greenday90

I have lost money today for this .........

__________________________

Unreported Execution

Oct 07, 2008



Dear IB Trader,

The following execution is in the process of being entered into this account;

X 000 XXX 00.00

Due to technical issues, this fill was not reported to the account electronically but did execute in the market. This execution will display in the list of trades for the current day as well as in the account statement this evening.

Please review the current account position and working orders to determine what action, if any, is appropriate to mitigate any market risk associated with this issue.
Feel free to contact us if any clarification is required regarding this incident.

Regards,
__________________________


INCREDIBLE !!!!!!!!!!!!!!!

FIRST TIME THAT HAPPEN

I`m going away from IB /......
 
Green---

What time did the execution take place and when did you receive notification of it?

Did you get this message as a "bulletin" in TWS or as an email or both?
 
So you submitted an order and did not get a fill and canceled the order?

I suggest you compare the order-id of this order and the order-id of the fill report; they have to be identical. If not open a trouble ticket (and do nothing with the position).

The order-ids can be found in the audit trail file:tue.audit.xml in your user directory.
 
Quote from BSAM:

Green---

What time did the execution take place and when did you receive notification of it?

Did you get this message as a "bulletin" in TWS or as an email or both?
More...

Both
 
Activity Statement for October 07, 2008


Comm/Tax : 0.00 ( $0.00 no commission )

Code : M;O

M Entered manually by IB
O Opening Trade
 
we have been experiencing phantom orders again here since August.
I personally have exited, checked my pending account and I show nothing to be later that day or next assigned.
This happens in stocks and futures.

On Friday I was flat the futures, check to ensure then a few minutes later I hear the bong that something has been executed.
I checked trades, nothing, check with the other accounts and traders ...nothing..then approximately 5-10 mins later I have a futures position in the money that I can not exit. When I finally am out after many attempts I check again and am flat to only hear the bong again.
IB has had this issue for years. It comes and goes.
I recently was on the phone with IB re this issue, and some of the pending orders I had he could not see and he had others I did not!
In stocks one could manage or attempt to, in futures is has the remedy for diaster.
On Friday I personally was placed in a min. of 6 phantom trades. A bank officer who was with me while I was trading could not believe that this happens. Today I received several premarket and several just prior to 11a.m. My issue today is that it took many attempts to exit, Ib was not only slow but would not accept the exit order. I believe this is one of the reason as if one attempts several times to exit and finally IB accepts then perhaps those attempts are now pending? I sometimes adjust the price or cancel and retry. I also noticed that the bid / ask is lagging. I had to place an exit order above the bid /ask only to have it flow through me and not exit me. It took several more attempts to finally get flat.

Today this cost us big money (7 figure) as several of the traders were unable to exit. Calling IB the trader is told to manage it, write a ticket but if you exit then you accept the loss as they see the trade executed from your IP addresss. No one is saying it was not executed from the IP just that we did not have a working order.
As a result it is impossible to win or be compensated.

Strongly suggest everyone, especially new traders govern yourself accordingly. Having as second account or back up account only works to hedge one's self if one has the capital to do so unlike most new traders.

w
 
Please send me specifics so that we can look at it.

1) I need the account number, precise time of day, symbol and order. Please also explain what it means that "IB would not accept the exit order".

2) I also need examples of trades for which you don't believe you placed orders. (These could be automatic liquidation trades, but I would check anyway).

You can send me the info to help@interactivebrokers.com and enter mg101 into the subject line.

Thank you.

Quote from nassau:

we have been experiencing phantom orders again here since August.
I personally have exited, checked my pending account and I show nothing to be later that day or next assigned.
This happens in stocks and futures.

On Friday I was flat the futures, check to ensure then a few minutes later I hear the bong that something has been executed.
I checked trades, nothing, check with the other accounts and traders ...nothing..then approximately 5-10 mins later I have a futures position in the money that I can not exit. When I finally am out after many attempts I check again and am flat to only hear the bong again.
IB has had this issue for years. It comes and goes.
I recently was on the phone with IB re this issue, and some of the pending orders I had he could not see and he had others I did not!
In stocks one could manage or attempt to, in futures is has the remedy for diaster.
On Friday I personally was placed in a min. of 6 phantom trades. A bank officer who was with me while I was trading could not believe that this happens. Today I received several premarket and several just prior to 11a.m. My issue today is that it took many attempts to exit, Ib was not only slow but would not accept the exit order. I believe this is one of the reason as if one attempts several times to exit and finally IB accepts then perhaps those attempts are now pending? I sometimes adjust the price or cancel and retry. I also noticed that the bid / ask is lagging. I had to place an exit order above the bid /ask only to have it flow through me and not exit me. It took several more attempts to finally get flat.

Today this cost us big money (7 figure) as several of the traders were unable to exit. Calling IB the trader is told to manage it, write a ticket but if you exit then you accept the loss as they see the trade executed from your IP addresss. No one is saying it was not executed from the IP just that we did not have a working order.
As a result it is impossible to win or be compensated.

Strongly suggest everyone, especially new traders govern yourself accordingly. Having as second account or back up account only works to hedge one's self if one has the capital to do so unlike most new traders.

w
More...
 
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