I understand this is a terrible situation for people and I am very surprised that this is still an ongoing issue, but can't you all just take your Wednesday 3rd closing position and then go through your software trade logs for Thursday and Friday?

Hey everyone!

We want to help shed some light into what we BELIEVE happened today. We are still waiting for the full details, but since this is a topic now and some traders out there may be worried, we thought this could help.

As you all now know, there was an outage at Phillip Capital towards the end of the trading day yesterday (2/4), around 3:00 PM CST. This caused the statements to not properly upload the trades executed towards the end of the day. The result being incorrect open positions uploaded to the platform.

Platforms such as Rithmic and CQG use the statements as a way to create the SOD (start of day) position and P&L. Since there was an outage at Phillip, when the statements uploaded to the platform, it pulled in the incorrect open positions for some accounts. This caused incorrect positions on the platform.

Here is what Edge Clear did today that I believe helped our customers as much as possible.

1. Brokers arrived to the office early once the issue was known
2. An email was sent to all Edge Clear/Phillip Capital customers with notice that the positions may be incorrect
3. We discussed with Phillip what the root cause is.
4. Phillip sent us the entire fill log for all customers orders yesterday
5. We used the fill log and compared it with February 4th’s statement
6. Using February 3rd statement to confirm the EOD (end of day) position
7. If any customer we noticed to have incorrect position, we attempted to reach out to them and walk them through the orders

We plan on updating our customers throughout the day.

@Big_Mike and us are on the same page on pretty much everything relating to futures. However, we advise anyone who finds a position in their account to not close it or manage it without getting clear instructions/confirmation that it is your trade. When you close it, you now take ownership of it. It is best not to trade it. Yes, there is risk hanging out there if it ends up being your trade, but you might be opening a trade at the exchange when you are closing it in the platform.

Please reach out to Edge Clear if we can help in any way. https://edgeclear.com/contact-us/

Good luck!

Wow, I definitely feel the frustration and anxiety that you experienced.

@NT Brokerage or @NinjaTrader, is there a customer portal on the FCM side that NT customers can access and view their positions -- outside of the NinjaTrader platform itself -- to see if it is in sync?


I think the underlying message here from NinjaTrader is that regardless of the frustration or the delay, do NOT touch any wrong positions -- they will be fixed and you won't be liable, just have patience. And the other message is that a "mess" that this is, it hasn't happened to this extent in nearly 20+ years, so please give some leeway.


Mike

I understand this is a terrible situation for people and I am very surprised that this is still an ongoing issue, but can't you all just take your Wednesday 3rd closing position and then go through your software trade logs for Thursday and Friday?

In theory, yes, positions and account balances are being backed into but throughout this process, the clearing firm has run into issues. We were expecting that this issue would have been resolved by the next morning but obviously this was not the case.

I actually meant that as a question for the individual traders. I realize for you the broker this would be a mammoth task, but for each individual isn't it relatively easy. Even for traders who trade a lot isn't it just, download, reformat, excel pivot table - viola?