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Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
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Settlement price will be 37.63. On one lot of QM that's a $18815 difference than selling at 0 and a $27,950 change from Friday night.
@bassa sounds like IB's systems do not allow negative prices. You were unable to liquidate your positions because of flaw in their software. That is 100% their fault and they can not blame any other party. CME has been sending out messages that they would allow prices to go negative for at least two weeks. IB obviously ignored the. Sounds like IB may have some liability there.
I was long 2 lots.. Did not try a market order... All the data at ib was not present.. They basically cleared all data in their terminal once it hit 0... So I was completely in the blind...
The problem with ib market order, is that it is never a real market order.. The cap it at a certain percentage , so you can't do crazy stuff... So not sure a market order would have saved me
Please do keep us posted on what IB has to say about their system supporting negative prices. Especially given you are showing the data feed was inactive/blind once it hit zero. I would say you likely have a case just based on this preliminary info. I would imagine there will be a class action if what you experienced is true, a lot of others will say the same. If that ends up happening, you should consider joining the class action.
So @bassa if I have the math right (please check), you are responsible for a 14k loss on your own by sitting and letting it go to zero, where presumably you could have exited at any time.
Once it went below zero, IB didn't allow you to get out with a limit order, although you did not try a market order and we don't know the result. Once it fell below zero, you lost an additional 36k.
