DirectFN - Beware of conditional orders!!!

hunter · 1 DirectFN - Beware of conditional orders!!! Fri Sep 23, 2011 1:29 pm

hunter

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I saw some discussions on the above subject in this forum.

There seems to be some problem with this feature (at least with Asha Ph.)

One of the conditional (DAY) orders I placed about one month ago (which was supposed to be expired by ages), all of a sudden got executed this morning.
Luckily, I was at my computer when the order was being carried out. So noticed the error immediately.
The technical guys at broker end are now investigating what has happened.

Thought of sharing this with you as a precaution.

glad · 2 Re: DirectFN - Beware of conditional orders!!! Fri Sep 23, 2011 2:05 pm

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Thanks for the info.
Is it a problem with DIR.FN or ASH PH?

hunter · 3 Re: DirectFN - Beware of conditional orders!!! Fri Sep 23, 2011 2:09 pm

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glad wrote:Thanks for the info.
Is it a problem with DIR.FN or ASH PH?

Apparently, something to do with the order processing server (DFN). Waiting for their confirmation.

123longway · 4 Re: DirectFN - Beware of conditional orders!!! Fri Sep 23, 2011 2:15 pm

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Hi, Hunter,
Thanks for this important information. Kindly keep us informed with the results of their investigations.

NimeshaJK · 5 Re: DirectFN - Beware of conditional orders!!! Fri Sep 23, 2011 2:21 pm

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well I'm too using DirectFN, but didn't encounter such a problem.. My broker is RPS!

hunter · 6 Re: DirectFN - Beware of conditional orders!!! Fri Sep 23, 2011 2:24 pm

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Just a clarification:

This issue I faced was with CONDITIONAL (Advance / Algo) orders only. Normal buy/sell orders are working fine.

yoyo · 7 Re: DirectFN - Beware of conditional orders!!! Fri Sep 23, 2011 3:14 pm

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Hi hunter,
Thanks for the info. So we know there are some problems in conditional orders in DFN.

RealViewer · 8 Re: DirectFN - Beware of conditional orders!!! Fri Sep 23, 2011 5:36 pm

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hunter wrote:I saw some discussions on the above subject in this forum.

There seems to be some problem with this feature (at least with Asha Ph.)

One of the conditional (DAY) orders I placed about one month ago (which was supposed to be expired by ages), all of a sudden got executed this morning.
Luckily, I was at my computer when the order was being carried out. So noticed the error immediately.
The technical guys at broker end are now investigating what has happened.

Thought of sharing this with you as a precaution.

@hunter if you get a conformation please let us know
seems there is provision to execute orders ( may be a bug ..lol)
I want to write smthng by my own. well... still not possible
wish could happen in future....

Dileepa · 9 Re: DirectFN - Beware of conditional orders!!! Fri Sep 23, 2011 7:06 pm

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hunter wrote:I saw some discussions on the above subject in this forum.

There seems to be some problem with this feature (at least with Asha Ph.)

One of the conditional (DAY) orders I placed about one month ago (which was supposed to be expired by ages), all of a sudden got executed this morning.
Luckily, I was at my computer when the order was being carried out. So noticed the error immediately.
The technical guys at broker end are now investigating what has happened.

Thought of sharing this with you as a precaution.

I had the same experience three times during this week.
Problem is with CSE(related to 19th system failure), Not with DFN, Broker or Order Type.

Following is my Cash Statement, Order Search(DFN) and Order Search(DFN Web).
DirectFN - Beware of conditional orders!!! System10

DirectFN - Beware of conditional orders!!! System10

■I placed following orders on 13th and 14th.
1. FLCH GTC Order 13th -> expire on 19th
2. RWSL GTC Order 13th -> expire on 19th
3. WAPO GTC Order 14th -> expire on 20th
4. NTB GTC Order 14th -> expire on 20th
5. RICH GTC Order 14th -> expire on 20th
(disregard dip, that was something else)

■On 15th, I was on credit (just Rs.200/=) but had a considerable buying power.

■Having informed about the system failure, I cancelled all buy orders on 19th.

■System came back online on 20th. Since I have cancelled all orders from my side,
they are no longer displayed on my TWS and I had no way to monitor the status of them.
In the evening RICH, WAPO & NTB appeared expired on order list, but I did not bother about it.
Also my buying power went to Rs.-200/= since I had not settled the balance during T+5.

■All of a sudden FLCH & RWSL orders executed on 21st. (See Cash Statement)
(I did not report this, because I wanted those shares and with minus buying power that was a bonus for me)

■Similarly NTB order was executed on 21st and I kept my mouth shut again. Smile

■Today(23rd) I was on leave and executed "Cancel All Buy Orders" even there wasn't any displayed hope that fixed it.
(Usually at the office I do not have much time to monitor the market and orders can't be cancelled during after hours)

P.S,
Having seen your post, taught that I should tell this.
Sorry for not bringing this to stage much earlier. There is a system bug!

glad · 10 Re: DirectFN - Beware of conditional orders!!! Sun Sep 25, 2011 5:50 am

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Anything we can do to safeguard from this?

hunter · 11 Re: DirectFN - Beware of conditional orders!!! Mon Sep 26, 2011 1:08 pm

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Conclusion:

The broker called me early this morning (their response was better than I expected).
According to them, it has been a DFN system error.
I was told they would reverse the transaction and the 'lost' amount would be credited to my account.

sandanuwan · 12 Re: DirectFN - Beware of conditional orders!!! Tue Sep 27, 2011 10:48 am

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DrirectFN TWS GTC oder are impossible I put a oder Fri sell at 3.50 but Monday it reach 3.50 and one time cleared all 3.50 oders but my Oder didn't fill.I also unable to cancel that Oder or amend.how put conditional oders in directFN

Roboticfx · 13 Re: DirectFN - Beware of conditional orders!!! Tue Sep 27, 2011 10:57 am

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I faced a problem also i the last week.

I put an GTD order to sell some CIFL shares and it was OK. But in the next day, that order had disappeared. I tried to put another order but an error message occurred which saying "Don't exceed the quantity" or something like that. This problem was remaining for 5days and it solved automatically on the 6th day. I couldn't understand what happened. But everything is OK now.

sandanuwan · 14 Re: DirectFN - Beware of conditional orders!!! Tue Sep 27, 2011 11:04 am

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When solved automatically on the 6th day price of stock down.
I faced this problem many times
i put GTC oders because i haven't time to place oders in some days
What about CDAX, is there any problem with CDAX

Chinwi · 15 Re: DirectFN - Beware of conditional orders!!! Tue Sep 27, 2011 11:14 am

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sandanuwan wrote:When solved automatically on the 6th day price of stock down.
I faced this problem many times
i put GTC oders because i haven't time to place oders in some days
What about CDAX, is there any problem with CDAX

In CDAX no such things happened. The only problem is its snail speed ( compared to Dfn) in both sides and it use lot of computer memory I think.