NYSE Computer Glitch

wh92stang

Active member
229 2
Anybody have a problem trading on the NYSE this morning? I trade through Interactive Brokers and I saw that Bank of America had a bid that was $0.05 higher than the ask. So I guess I shouldn't have been so stupid to actually try to do this, but I was. I figured I'd sell at $13.62 (bid) and buy back at $13.57 (ask). I should've assumed something was wrong. Anyway, I went ahead and sold, then tried to buy back and nothing happened, so I changed it to a market order just to get out, still nothing happened. Then I logged out and back in, tried to close it, nothing happened. I was pissed cause I knew it was going up. Then I tried to close all positions and I got an error. Finally I called IB and had them liquidate it, and took a $480 loss. I was pissed. I filed to get reimbursed, probably won't happen though, as I later heard in the news there was a glitch in the NYSE matching system. Anybody had this happen before?
 

Tileman

Member
86 7
Hi,
IB flashed a warning there was a issue at the exchange you should have had this notification do you have bulletins configured,this may have saved you.

Regards
Graham
 

HaloTrader

Established member
615 55
If this ever happens you should have a plan to hedge your positions. So if your long FTSE and you can't close the position, short the DAX to hedge the position just as an example...

Its part of my plan :D
 

wh92stang

Active member
229 2
Good idea to hedge. I should've thought of that.

Tileman, the bulletin flashed for me too, but well after I was already in and couldn't get out.
 
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