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This is something I have wondered about: can one broker sell stocks held by
another?
The only solution I could think of is to place opposing trades with an other
broker, i.e. if you are Long with the unavailable broker you could go short
on the same stock with another to simulate getting out, or "freezing" your
position... at the cost of some extra commission and slippage.
Any comments?
Herman.
> -----Original Message-----
> From: Steve Dugas [mailto:sjdugas@x...]
> Sent: 13 October, 2002 6:59 PM
> To: amibroker@xxxxxxxxxxxxxxx
> Subject: Re: [amibroker] Re: InteractiveBrokers API --> AmiBroker ?
>
>
> Hi Ara,
>
> You are talking about splitting your money between accounts with
> 2 different
> brokers, right? I assume that a backup broker cant get you out of a trade
> you have executed on your account with another broker, right?
>
> Steve
>
>
> ----- Original Message -----
> From: "akaloustian" <ara1@xxxx>
> To: <amibroker@xxxxxxxxxxxxxxx>
> Sent: Sunday, October 13, 2002 6:36 PM
> Subject: [amibroker] Re: InteractiveBrokers API --> AmiBroker ?
>
>
> > Owen,
> >
> > I have not heard anything nasty about IB, but you might consider
> > keeping an account with another broker as backup, preferably a broker
> > who can support telephone order quickly in case the problem is in
> > your computer. In a situation when IB has problems, you can always
> > bail out with your backup. It's probably a good general policy
> > anyway....
> > Ara
> >
> > --- In amibroker@xxxx, "Owen Davies" <owen5819@xxxx> wrote:
> > > I've also been thinking of going to Interactive Broker, for
> > > the e-mini S&P and Nasdaq, but am concerned that they
> > > have no back-up system to execute your trades when Globex
> > > goes down or their own systems decide it's time for a short
> > > vacation. Does anyone know how big a problem that is?
> > > How often they have trouble getting the job done? (Not that
> > > it has to be more than once, if you happen to get caught on
> > > the wrong side of the market with no way to bail.)
> > >
> > > Thanks.
> > >
> > > Owen Davies
> >
> >
> >
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> >
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> >
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>
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