Jump to content

Company merger, but ticker stuck in call to close

Recommended Posts

Eldorado ERI bought Caesars CZR. On Commsec they changed the ticker for ERI to CZR automatically. On IG, my ERI shares are still stuck in CALL TO CLOSE. Have called and e-mailed IG and they said the helpdesk is still working on changing the ticker.

Like, totally wtf?

It's been 48 hours now and my ERI shares are still locked. Anybody else have the same problem/?

Share this post


Link to post

IG don't bother their @rse to come on these forums so you will need to keep calling.  Sorry to hear that, very frustrating I know.

Share this post


Link to post

Called them twice, emailed six times, 3 days later every response is they are resolving the ticker issue.

$1000 loss to far as we have been unable to close off the position.

The postion is still locked at $38.24 in ERI.

Unless for some insane reason our whole position was just meant to be paid out at $38.24 at the point of merger?

This is all due to a technical error on their behalf. Sheer incompetence.

Screen Shot 2020-07-25 at 10.33.52 am.png

Share this post


Link to post
Posted (edited)

Hold tight and make sure you get compensated (keep asking for status updates), otherwise go to the FCA.  Tweet them so that other people are aware of the problem too (a problem shared and all that).

Edited by dmedin

Share this post


Link to post

6 e-mails latter, 2 phones calls, every e-mail saying, they are fixing the ticker, last one says call them during general session and they will give me my options. WTF. I think it sounds like everyone is working from home and the guy who knows how to fix it is on break....

Even commsec with it's crummy international portal got it done the instant the market opened.

Share this post


Link to post
Posted (edited)

Yeah.  I don't know.  Their web platform has serious issues so their new woman finance chief is going to spend £10 million on it.  Hope that's enough.  Their customer service appear to have given up.  They clearly don't give a flying f*ck.

Edited by dmedin

Share this post


Link to post
Posted (edited)

4th Phone call. Still no fix. 

$1600USD loss and counting.

Have not been able to close the stock for over a week now.

Has been pushed up to corporate as no one can help or give a straight answer.

Looks like this is going to be headed to the onbudsman. This is beyond technical negligence.

 

 

 

Edited by JackSparrow
  • Sad 1

Share this post


Link to post

Sounds like a typical dysfunctional UK financial service industry firm.  No worries, everything will be better once we leave the EU and get told what to do by Donald T^rd :D 

Share this post


Link to post
52 minutes ago, JackSparrow said:

...

Looks like this is going to be headed to the onbudsman. This is beyond technical negligence.

 

 

 

Really? Are they denying financial responsibility for it? Can't see how this would need to go to an ombudsman - clearly seems to be caused by a technical shortcoming on their part. 

Share this post


Link to post
8 minutes ago, Fletch said:

Really? Are they denying financial responsibility for it? Can't see how this would need to go to an ombudsman - clearly seems to be caused by a technical shortcoming on their part. 

Yeah, screwing someone out of $1600 is clearly just a wee technical glitch and no big deal.

Share this post


Link to post
5 minutes ago, dmedin said:

Yeah, screwing someone out of $1600 is clearly just a wee technical glitch and no big deal.

Not really what I said, or indeed anything remotely like it.

Share this post


Link to post
Posted (edited)
1 hour ago, Fletch said:

Not really what I said, or indeed anything remotely like it.

Yeah, 'technical glitches' that cost clients money should absolutely go to a higher authority, especially when IG's technical 'support' is inaccessible or incompetent or simply can't be bothered.   Otherwise these c*nts will get away with a shoddy system, see? :)

Edited by dmedin

Share this post


Link to post
1 minute ago, dmedin said:

Yeah, 'technical glitches' that cost clients money should absolutely go to a higher authority, especially when IG's technical 'support' is inaccessible or incompetent or simply can't be bothered.   Otherwise these c*nts will get away with a shoddy system, see? :)

Can't really argue with that. Providing of course you want to wait it out for an 'official' investigation.

Share this post


Link to post
49 minutes ago, Fletch said:

Can't really argue with that. Providing of course you want to wait it out for an 'official' investigation.

 

I doubt the FCA will give it the time of day, personally.  The brokers are free to swindle and cheat :)

Share this post


Link to post
1 minute ago, dmedin said:

 

I doubt the FCA will give it the time of day, personally.  The brokers are free to swindle and cheat :)

Nor do I. IG would doubtless claim extenuating circumstances due to the covid situation. Ultimately depends on whether you would want all the additional time and hassle to make a point. It's unlikely you would up with anything extra by going to the ombudsman, except possibly a dose of piles as you sit around waiting.

  • Thought provoking 1

Share this post


Link to post

I'm in Australia, so it is going to be another entity. Obviously I'm not going to go to any onbudsman first would expect them to resolve.

Sounds like they don't have any idea what is happening. Their last response was a 'rebooking' is required. 

I explained the line of logic where:

Ticker changes happen all the time, the same stock on our other 2 brokerage accounts changed instantenously.

It doesn't make sense that a 'rebooking'/'/line change' needs to be done and I need to wait 7 days for this to happen.

If such was the case, why was I told on 4 separate e-mails to just wait for the ticker to change and the helpdesk is working on it (4 times via email and once via phone).

FYI I can't cannot do anything with the position. I'm getting the feeling that I'm being palmed off by juniors and wouldn't get a resolution until it honestly does go to the complaints department and someone senior can make a decision.

 

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Member Statistics

    • Total Topics
      12,822
    • Total Posts
      65,802
    • Total Members
      86,821
    Newest Member
    Eleanoralice
    Joined 29/10/20 08:36
  • Posts

    • Start the conversation The US election is scheduled for Tuesday 3 November 2020, when all 50 states and Washington DC will cast their votes. The vote spans six different time zones, so the first exit polls will be available at around 11pm (EST) when West Coast voting closes. In the UK, that will be around 4am (GMT) on Wednesday 4 November 2020. The election is likely to create opportunities for traders, with price movements expected across a range of forex pairs, indices and commodities in the run-up to polling day. Volatility related to the election could continue until congress certifies the result on Wednesday 6 January 2021, or even until the winner is inaugurated on Wednesday 20 January 2021. What should traders expect to see during the US election? All US markets tend to experience increased volatility in the run up to a presidential election, including USD forex pairs, indices and commodities. That’s because many investors will attempt to lock in positions before the result is announced – using polls to gauge public sentiment. The aim is to take full advantage of the price moves that occur when the country’s political direction is confirmed. At the top level, early indications suggest that the following could be on the cards if one of these two main candidates win: Donald Trump A Trump win could see an escalation of the trade war, potentially causing problems for some US exporters and having a negative impact on the value of the dollar. However, this effect could be offset by reassurances that tax cuts and deregulation will continue – boosting the US economy. Joe Biden A Biden win could see tensions in the trade war cool, providing a boost to US exporters and the dollar. However, these effects could be offset by tax increases for high-income households, and more limited deregulation.   How will markets react to the different candidates? Market commentary by IG Senior Market Analyst Joshua Mahony Stocks Markets hate uncertainty, and historically the perception has been that a new president might bring policies that could be harmful for stocks. This happened in 2016 when analysts were confident that a Trump presidency would spark a market collapse. But, we are now seeing that same fear creep in as people consider a Biden presidency and the potential uncertainty it could cause. Biden is openly more left-leaning, and his policies are expected to be geared towards human needs rather than those of investors and traders. This sentiment isn’t helped by suggestions that Biden would reverse Trump’s tax cuts, and it is likely that markets will rise alongside the potentially increased chance of a Trump victory as we approach the election. USD The value of a currency is supposed to reflect the health of an economy and its future prospects. Many are expecting Biden to be less focused on the markets than his Republican opponent, so the dollar could weaken in the event of a Biden victory. However, this effect could be offset if Biden is able to improve relations between the US and China after years of market anxiety. In this scenario, it would be the Chinese yuan which may benefit the most, with the trade war having sparked huge upside for USD/CNH. Keep in mind that if the wider markets fall on a Biden victory – including US stocks and indices – the dollar would likely rally in the short-term to reflect a risk-off move as investors turn to USD. Gold The prospect of a more expansive fiscal policy under Biden, and from a government which is happy to embark on substantial spending programmes, could provide a boost to precious metals. There’s a caveat here too, because in the past precious metals have also followed the same patterns as the stock markets during times of crisis. So, any collapse in equity markets that may come from a change at the White House could drag gold lower in the immediate period. Plus, while Trump has finally seen the kind of stimulus he would have hoped for, a Biden win could result in a more substantial stimulus package if the Democrats gain a foothold in Congress.   How are you trading?
    • Dax has been volatile today. Down 600, Dax down 4% on COVID fears. US open in 10 minutes. 
×
×