[RT] IB bond update/request for broker recommedations

["Chris Cheatham" <nchrisc@xxxxxxxxxx>]

IB is simply not to be believed. They make you switch from sep to dec bonds
before dec becomes the active contract. See below...

I would love someone's rec. for a broker to trade e-minis and ace bonds on
an IB-like (constant bid-ask update, etc.) platform.

Thanks,
Chris


________________________________________

Dear Trader,

 IB does not allow traders to initiate positions in futures contracts that
can be physically delivered  Since IB is not set up to physically deliver
the futures you mention in your email IB will not allow a trader to get in a
futures position that could end in physical delivery.  Simply put this is
the way it is.  IB understands that trying to trade the December contract
may not be the most ideal situation.  You can always trade the September
contract from the short side it you wish. Here from our web site it our
policy:

 Futures Closeout

  For  futures  contracts that are not settled in cash but are settled by
actual physical delivery of
  the  underlying  commodity,  customers may not make or receive delivery of
the underlying commodity
  with  the  exception  of certain currency futures contracts where physical
delivery of the currency
  will  be  received*.  For  long  positions  not settled in cash, customer
agrees to roll forward or
  close-out  the  position  by  offset  three (3) business days prior to the
exchange-specified first
  notice  day  (the  long  "Close-Out  Deadline").  For short positions not
settled in cash, customer
  agrees  to  roll  forward  or close-out the position by offset three (3)
business days prior to the
  exchange-specified last trade day (the short "Close-Out Deadline"). It is
Customer's responsibility
  to  make itself aware of the "Close-out Deadline". If customer has not
closed out any position in a
  futures  contract  not  settled  in cash by the "Close-Out Deadline", IB
has the right to liquidate
  customer's position in the expiring contract.




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