Morpheus
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Posts posted by Morpheus
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Does anybody know at what time of day the OPEC meetings generally conclude? there is one this coming Wednesday,
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18 hours ago, jlz said:
This the response from the search markets endpoint. Does it help?
{
"markets": [{
"epic": "ED.D.TL0GY.DAILY.IP",
"instrumentName": "Tesla Inc (DE)"
}, {
"epic": "ED.D.TL0GY.MAR.IP",
"instrumentName": "Tesla Inc (DE)"
}, {
"epic": "ED.D.TL0GY.JUN.IP",
"instrumentName": "Tesla Inc (DE)"
}, {
"epic": "ED.D.TL0GY.SEP.IP",
"instrumentName": "Tesla Inc (DE)"
}, {
"epic": "UD.D.TSLA.DAILY.IP",
"instrumentName": "Tesla Motors Inc (All Sessions)"
}, {
"epic": "UD.D.TSLA.MAR.IP",
"instrumentName": "Tesla Motors Inc (All Sessions)"
}, {
"epic": "UD.D.TSLA.JUN.IP",
"instrumentName": "Tesla Motors Inc (All Sessions)"
}, {
"epic": "UD.D.TSLA.SEP.IP",
"instrumentName": "Tesla Motors Inc (All Sessions)"
}, {
"epic": "KA.D.STSLLN.DAILY.IP",
"instrumentName": "Leverage Shares -1x Tesla ETP"
}, {
"epic": "KA.D.STSLLN.MAR.IP",
"instrumentName": "Leverage Shares -1x Tesla ETP"
}, {
"epic": "KA.D.STSLLN.JUN.IP",
"instrumentName": "Leverage Shares -1x Tesla ETP"
}, {
"epic": "KA.D.STSLLN.SEP.IP",
"instrumentName": "Leverage Shares -1x Tesla ETP"
}, {
"epic": "KA.D.2TSLLN.DAILY.IP",
"instrumentName": "Leverage Shares 2x Tesla ETP"
}, {
"epic": "KA.D.2TSLLN.MAR.IP",
"instrumentName": "Leverage Shares 2x Tesla ETP"
}, {
"epic": "KA.D.2TSLLN.JUN.IP",
"instrumentName": "Leverage Shares 2x Tesla ETP"
}, {
"epic": "KA.D.2TSLLN.SEP.IP",
"instrumentName": "Leverage Shares 2x Tesla ETP"
}, {
"epic": "KA.D.3LTSLN.DAILY.IP",
"instrumentName": "GraniteShares 3x Long Tesla Daily ETP"
}, {
"epic": "KA.D.3LTSLN.MAR.IP",
"instrumentName": "GraniteShares 3x Long Tesla Daily ETP"
}, {
"epic": "KA.D.3LTSLN.JUN.IP",
"instrumentName": "GraniteShares 3x Long Tesla Daily ETP"
}, {
"epic": "KA.D.3LTSLN.SEP.IP",
"instrumentName": "GraniteShares 3x Long Tesla Daily ETP"
}, {
"epic": "KA.D.3STSLN.DAILY.IP",
"instrumentName": "GraniteShares 3x Short Tesla Daily ETP"
}, {
"epic": "KA.D.3STSLN.MAR.IP",
"instrumentName": "GraniteShares 3x Short Tesla Daily ETP"
}, {
"epic": "KA.D.3STSLN.JUN.IP",
"instrumentName": "GraniteShares 3x Short Tesla Daily ETP"
}, {
"epic": "KA.D.3STSLN.SEP.IP",
"instrumentName": "GraniteShares 3x Short Tesla Daily ETP"
}]Most grateful, thanks. I was using the Excel API demo, and it does not find them.
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6 minutes ago, Ikechukwu said:
Yes, Very belatedly. She could have put this statement out on day 1!
Speaks to a bunker and reactive mentality/culture that she has and is within her organisation. I suspect she made this statement with her gun to her head after seeing signs of customer flight
I'll take this statement at face value but a lot of damage has already been done to the reputation/image of IG
100% agree with your analysis.
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On 30/01/2021 at 13:28, Ikechukwu said:
In my view the real reason for the outages is a policy decision on the part of IG to minimise liquidity risks. In my opinion, the most relevant part of that article is the one below
The fact IG is hiking up margin requirements all over the place and completely restricted trading in a few shares should tell you something. Given the lack of explanation from IG.COM about the cause for the outages, people are entirely justified in drawing their own conclusions (what you call conspiracy theories) based on the broader ongoing context. I'd rather hear direct from the horses mouth than you hunches and assumptions
You say you've been in system development for 40yrs. Perhaps this has made you overly technology centric? Your focus on your API integration is revealing. Most punters simply want to be able to log in to the platforms and trade at all opportune moments. IG seems to be copying the China playbook of shutting things down when it perceives a threat!
"In this situation, also A-Book brokers are not secure. There are many examples in the forex industry of STP brokers’ failures. Counterparty risk associated with liquidity provider can be crucial if we mitigate to them significant and concentrated exposures. In case chosen liquidity provider is not able to cover profits generated on hedge account, our business model will collapse like a house of cards.
Even if you decide to minimize the counterparty risk by connecting to the biggest liquidity providers or even prime of prime, in most cases such LPs are not flexible enough and cannot offer you negative balance protection. This can lead to a situation where your clients would generate huge negative balances on their accounts. Liquidity provider would ask to cover the negative balance on a hedge account, but the broker wouldn’t be able to reclaim money from traders. Such loss can be disastrous for your brokerage, especially as STP is a commission-based model."
The horse has spoken ;)
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3 minutes ago, jlz said:
You are never going to stop
Now tell me why the API failed to respond at the same the website login did.
haha
. no never tenacity is my middle name
My guess is some key resource was depleted by the number of concurrent connections. -
On 30/01/2021 at 16:28, jlz said:
The list is not small, for any query I send to Google I get the usual big bank names where Citibank and Citadel seems to be the most common among other 15-20 providers.
Many comments came out pointing that broker shortages are normally related to these providers but none mentioned exact names and particular reasons.
Have you noticed today that you can only have one device open at a time? for example if I log in on the phone app it logs me out on my MacBook browser, this is a reasonable thing I think and will presumably reduce the number of concurrent connections to the IG servers, this action alone, is enough to conclude that the outsages were indeed related to system overload at least in large part.
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Does anybody know why it is not possible to acquire Epics does shares? I want to find the Epic for Tesla Motors Inc for example but only Option Epics are available.
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2 hours ago, NotAlwaysVolatile said:
I found this sort of thing happening years ago and stopped trading due to frustration (and did OK with a buy and long only strategy on various funds) - City Index and Finspreads were constantly having 'technical issues' whenever the market got interesting.
I assumed that things had moved on - are brokers still running their own tin? Surely there are some brokers that are using modern best practices for dev and ops to allow scaling to meet demand? We're not in 2008 now.
Has there been an explanation of the nature of the 'technical issue' yet? Have IG (or any of the other 7 or so main retail brokers - listed by jlz above) said if the technical issue is an in-house issue or some other bottleneck in the wider system of systems'?
If each broker is facing an in-house issue, then this points to underinvestment / sweating assets, and a complete lack of user focus. Alternatively there is something wrong with the wider system of system - but where and how do you fix it. If it really is the latter - my guess is it won't get fixed because it is sometimes very convenient.
as has been said elsewhere in this thread, seems likely they are taking on many new clients and not improving the infrastructure pro-rata.
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4 minutes ago, Caseynotes said:
system overload
I 100% agree.
Thanks for your detailed responses.
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3 minutes ago, jlz said:
The list is not small, for any query I send to Google I get the usual big bank names where Citibank and Citadel seems to be the most common among other 15-20 providers.
Many comments came out pointing that broker shortages are normally related to these providers but none mentioned exact names and particular reasons.
I still favour a technical problem over IG faining technical problems to cover something up, maybe there is a common infrastructure for liquidity provision that could have failed somehow ?
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34 minutes ago, Caseynotes said:
The liquidity providers are all the usual suspects, big banks, pension funds and hedge funds. All has to go through clearing houses and and for a seat at that table you need to place a large deposit to cover ongoing transactions, that deposit can increase 10 fold on high volume moves that soaks up all the available liquidity.
Brokers find all their clients are one way so can't net off in-house and can't hedge so they close the book once their own risk highs are hit . Saw it happen a lot during bitcoin's pulse surges during 2017.
Is it likely in your view that a broker would fain loggin and platform issues general if it had insufficient liquidity ?
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21 minutes ago, jlz said:
These are the brokers that were reported to have problems yesterday.
https://istheservicedown.co.uk/status/ig-broker
https://istheservicedown.co.uk/status/cmc-markets
https://istheservicedown.co.uk/status/etrade
https://istheservicedown.co.uk/status/etoro
https://istheservicedown.co.uk/status/interactive-brokers
https://istheservicedown.co.uk/status/robinhood
https://istheservicedown.co.uk/status/td-ameritrade
https://istheservicedown.co.uk/status/trading-212We can tell that the down time was very similar in all of them, with the exception of Robinhood that is still having problems. If you click on the full report you will see the location where those users reported the problem from, they are all over the world.
Some users are already pointing out in comments that there was a shortage of equity liquidity from the usual providers. Now the question to me really is : Why those liquidity providers stopped or decreased their availability over the last week?
Some will point to the recent news about GME and Reddit but I can't subscribe that, mainly because I can't prove it. All I can say is that the reason why we had an outage seams obvious, but the trigger is still to be understood.
Can we find out if there are common liquidity providers to these brokers ?
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8 minutes ago, Ikechukwu said:
In my view the real reason for the outages is a policy decision on the part of IG to minimise liquidity risks. In my opinion, the most relevant part of that article is the one below
The fact IG is hiking up margin requirements all over the place and completely restricted trading in a few shares should tell you something. Given the lack of explanation from IG.COM about the cause for the outages, people are entirely justified in drawing their own conclusions (what you call conspiracy theories) based on the broader ongoing context. I'd rather hear direct from the horses mouth than you hunches and assumptions
You say you've been in system development for 40yrs. Perhaps this has made you overly technology centric? Your focus on your API integration is revealing. Most punters simply want to be able to log in to the platforms and trade at all opportune moments. IG seems to be copying the China playbook of shutting things down when it perceives a threat!
"In this situation, also A-Book brokers are not secure. There are many examples in the forex industry of STP brokers’ failures. Counterparty risk associated with liquidity provider can be crucial if we mitigate to them significant and concentrated exposures. In case chosen liquidity provider is not able to cover profits generated on hedge account, our business model will collapse like a house of cards.
Even if you decide to minimize the counterparty risk by connecting to the biggest liquidity providers or even prime of prime, in most cases such LPs are not flexible enough and cannot offer you negative balance protection. This can lead to a situation where your clients would generate huge negative balances on their accounts. Liquidity provider would ask to cover the negative balance on a hedge account, but the broker wouldn’t be able to reclaim money from traders. Such loss can be disastrous for your brokerage, especially as STP is a commission-based model."
I would also prefer to hear from the horses mouth I have a email into my account manager, hopefully that will shed some light.
I don't think I'm overly IT centric, I ran a number of businesses and operated in multiple roles, but I've seen a lot of system problems and bugs over the years and this to me looks like an overload, maybe an excessive amount of users or potentially a DDoS attack.
As you say IG can increase margin requirements in a response to volatility, they don't need to play bogus system error games, in my view, as downtime is extremely damaging to their reputation. -
3 hours ago, jlz said:
Ok you win. I can't add anything else.
Wait I can, google broker issues during the week.
It is interesting to see that the "IT issue" presents exactly the same symptoms in every single broker across the world. Check elitetrader forums and you will see people talking about Interactive Brokers. You could copy their messages and they would fit in this thread easily. Check Ameritrade as well if you are not happy.
Check also the many post that are around Twitter about Robinhood. All having "technical issues" at the same time.
Really? Every single broker having the same technical issues at the US opening?
I happen to be an IT Technical Architect, independent contractor, so you have to explain that IT issue to me in detail because I can't buy it.
Where is exactly that bottleneck? Is it at the load balancer? Is it at the gateway? Is it at the database server? Is it at the rest server? How come that I am able to authenticate and not get the account through the API? I did not get a timeout from the API, I did get a 503, internal server error. Do you know what that means ? It means a service chain broken in one of the servers, one particular service of the network, not the entire access.
It is very easy to say "technical issues" , but try me harder because I saw with my exception handling module exactly what happened yesterday and the http protocol tells you exactly what is going on.
It is also possible that some brokers are being subjected to DDoS attacks at around the time of the NY open
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6 minutes ago, jlz said:
Ok you win. I can't add anything else.
Wait I can, google broker issues during the week.
It is interesting to see that the "IT issue" presents exactly the same symptoms in every single broker across the world. Check elitetrader forums and you will see people talking about Interactive Brokers. You could copy their messages and they would fit in this thread easily. Check Ameritrade as well if you are not happy.
Check also the many post that are around Twitter about Robinhood. All having "technical issues" at the same time.
Really? Every single broker having the same technical issues at the US opening?
I happen to be an IT Technical Architect, independent contractor, so you have to explain that IT issue to me in detail because I can't buy it.
Where is exactly that bottleneck? Is it at the load balancer? Is it at the gateway? Is it at the database server? Is it at the rest server? How come that I am able to authenticate and not get the account through the API? I did not get a timeout from the API, I did get a 503, internal server error. Do you know what that means ? It means a service chain broken in one of the servers, one particular service of the network, not the entire access.
It is very easy to say "technical issues" , but try me harder because I saw with my exception handling module exactly what happened yesterday and the http protocol tells you exactly what is going on.
Let us wait and see, it does not seem unreasonable to me that if there is a massive peak in demand that multiple brokers would fail at the same time.
503 means service unavailable. Exactly what you might expect if a system were overloaded.
I'm also an IT guy, software engineer for some 40+ years.
In my log is "Exception: HTTP status code 504 {"errorCode":"error.security.authentication.timeout"}"
and also this "Exception: HTTP status code 503 <!DOCTYPE HTML PUBLIC "-//IETF//DTD HTML 2.0//EN">
<html><head>
<title>503 Service Temporarily Unavailable</title>
</head><body>
<h1>Service Temporarily Unavailable</h1>
<p>The server is temporarily unable to service your
request due to maintenance downtime or capacity
problems. Please try again later.</p>"
I don't think this proves either your nor my hypothesis, but I still favour "capacity problems" -
8 minutes ago, jlz said:
I never said that IG is targeting at retail traders, I said clearly that if there is no liquidity they can't provide a service so they can't operate as normally. Now you are taking a bit of text to prove one of the points. I said clearly that I understand that there is an increase of users coming online but that does not trigger the failure.
Read the article carefully, you will understand that an increase of users is just the beginning of the problem, the end is when a brokers does not have access to liquidity in very volatile markets.
Another thought that I alluded to in my first reply is this, if IG detected liquidity issues in some markets they would restrict only those markets, if IG detected lack of liquidity in all markets they might prevent logging in, but I fail to see why the price feeds via the streaming API would be suspended, nor why they would not have a sensible message saying "system not available try later" what we saw were system failures during loggin, difficulty accessing myig, but sometimes worked etc etc etc, these symptoms, in my view, do not fit your lack of liquidity provider hypothesis, they do however fit my IT infrastructure overload hypothesis.
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4 minutes ago, jlz said:
I never said that IG is targeting at retail traders, I said clearly that if there is no liquidity they can't provide a service so they can't operate as normally. Now you are taking a bit of text to prove one of the points. I said clearly that I understand that there is an increase of users coming online but that does not trigger the failure.
Read the article carefully, you will understand that an increase of users is just the beginning of the problem, the end is when a brokers does not have access to liquidity in very volatile markets.
OK, I'm not really convinced and my view is still that it is IT infrastructure issues that are causing the problems, let's hope I'm right because that should be fixable by IG unilaterally. I've put an email into my account manager to see if he is able to give me a detailed explanation.
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8 minutes ago, jlz said:
I would be happy to take credit of what I am saying but I cannot. It is well written and documented by many.
You honestly believe IG are targeting individual accounts? that they are destroying their own reputation intentionally with these outages ? I simply do not believe that.
From the article you posted "Operational risk is the last type of risk associated with higher volatility. During highly increased interest in trading, the broker’s IT infrastructure needs to be able to handle thousands of users and trades coming in online." this is the real issue in my humble opinion -
16 hours ago, Ikechukwu said:
It is rigged. The industry is trying to manage exposure to the Wall Street Bets phenomenon!
Explain please
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8 minutes ago, jlz said:
Great questions, I mentioned a cut in liquidity because that is normally the reason why brokers stop allowing access. Usually because of high volatility and unavailability of market makers.
I can tell that the API fails at retrieving the user account, it is able to authenticate and throws an exception when tries to get the account. This would align with the point that is able to load MyIG and not able to change accounts.
What I don't understand is how many brokers around the world have reported the same issue. And that is what led me to the common point they all have, access to the underlying market.
You made a point mentioning that a broker takes the other side of the bet. If there is a cut from their providers they cannot hedge the bet in the market so they have to realise any spike in volatility as losses. Many users, from many brokers, have mentioned that they saw their access restored when their profits deflated, i.e. Richiep123's comment above.
Things add up if we mix plenty of users trying to catch the moment at the US opening and brokers not willing to support their bets.
Or conspiracy theories aside, demand for retail trading has increased massively during the pandemic, compounded by the new year and a new lockdows, the systems at IG and perhaps other places cannot cope with the demand especially at peak times of the day.
As I said in a another reply, I do not buy the targeted user conspiracy nor "the big boys" are calling the shots conspiracy, but I am nonetheless very unhappy with the robustness of the IG systems right now and require assurances that the issues we have seen this week do not persist.-
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7 hours ago, Ikechukwu said:
Do you work for IG?
I have an idea! Why don't we let IG explain what the problem is and what they are doing to fix it instead of having everyone second guess. Now that would be ground-breaking wouldn't it?
Cmon Charlotte, what's been causing the outages? More of the same next week?
No I don't work for IG, but I do have 40 years experience in software development, and what I saw weemed to be symptoms of a system that could not cope with demand. I do not buy the conspiracy theories about specific users being targeted nor "the big boys" calling the shots.
IG have stated technical problems, I believe that, but do not misunderstand me, I am very unhappy with the robustness of their systems at the moment and like everyone require assurances that what happened yesterday and the day before won't happen again, Ive recently made a not insignificant investment to integrate my algo with the IG API. -
5 hours ago, Pitt said:
I am aware some users are logged in and fine. Hence knowing accounts being marked.
Proves nothing, sometimes I could log in during the outage, it very much looked like a system overload problem to me.
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5 hours ago, Pitt said:
The system is not down. Its been taken down at request of the large organisations. I would love to see someone tell me formally this is not true and i will show why it is. Keep digging fellow users and you will see how we are being screwed by companies we trust and put our money into.
Prove your assertion that "its been taken down at the request of the large organisations" please
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3 hours ago, jlz said:
My guess is "orchestrated cut from liquidity providers" so brokers have to prioritise professional accounts over retail to fill their obligations.
Also IG do not in general hedge individual trades (there maybe exceptions for some clients) most of what is bet there are taking the other side of and they hedge an aggregate of the total positions, 75% of IG retail users lose, there is a lot more money in taking the otherside instead of just the spread.
. no never tenacity is my middle name 
Use of API
in General Trading Strategy Discussion
Posted
Hi does anybody know if there are any terms and conditions specific to the use of the Rest API?
In particular is it within the terms and conditions for me to use a third party application to open and manage trades on my account via the Rest and Streaming APIs