Why am I seeing message: "Closing only: Market unavailable to open"

[ZR_]

I am quite interested in what is going on in the Bund this morning, fortunately when I attempt to place an order I see the below message:

Closing only: Market unavailable to open

Anybody know why?

[Caseynotes]

6 minutes ago, ZR_ said:

I am quite interested in what is going on in the Bund this morning, fortunately when I attempt to place an order I see the below message:

Closing only: Market unavailable to open

Anybody know why?

Hi this happens with bunds occasionally, you will need to switch to the futures market, see pic below of previous answer to the same question.

[larrytradingltd]

Weird, you get it quite a lot but usually only on smaller caps, not large etfs! 

[Caseynotes]

1 minute ago, larrytradingltd said:

Weird, you get it quite a lot but usually only on smaller caps, not large etfs! 

yeah, that was bunds specific, the 2 most common causes for the Closing only are that the market cap for the company has fallen below IG minimum and they will remove it from the platform once all positions are closed 

or,

IG has reach max risk tolerance for the market due to heavy one sided positioning and so are not allowing new positions until some positions have been closed, that might take hours, days, or sometimes even weeks

[larrytradingltd]

2 minutes ago, Caseynotes said:

 

IG has reach max risk tolerance for the market due to heavy one sided positioning and so are not allowing new positions until some positions have been closed, that might take hours, days, or sometimes even weeks

Yep, this is the reason SB doesn't work too well for me 

[Caseynotes]

Just now, larrytradingltd said:

Yep, this is the reason SB doesn't work too well for me 

yes, prob why Ross trades actual shares on a DMA platform, IG has this if you are interested look in the platforms section. 

[ZR_]

Thanks guys!

[dmedin]

36 minutes ago, Caseynotes said:

Ross trades actual shares on a DMA platform

No, he uses a method that only he can understand.  But you can feel free to pay to watch him jiggle his tallywhacker if you like.