UPDATED: CMEG Commission/ARCA Route Error

[Carlos M. 230]

Hey BBT family!

On Thursday (7/11) and Friday (7/12) you might have noticed on your platform some orders were routed via ARCA instead of LAMP. Even though you send the order correctly using LIMIT or MARKET as your route, the system was having some issues and caused this mistake to happen. Please review your statement with CMEG for Thursday (7//11) and Friday (7/12) to make sure everything looks correct with the route LAMP and with the new commission structure for BBT members. 

If you do have some orders that were transacted with ARCA and commission fee of $3.95, you can email me your [email protected] just full name and I will add you to the list of names we are sending to CMEG so they can fix the issue accordingly. You can also work with CMEG directly, and if you have already emailed them about the issue they will address. 

CMEG is aware of this issue and is addressing it to prevent it from happening and they are committed to adjusting all statements that were charged incorrectly. Thank you all!

Edited July 18, 2019 by Carlos M.

[david10p 1]

Hey Carlos, 

I did not have this issue on 7/11 and 7/12, but I had it yesterday(7/15) where they applied the old rates to my trades.

Today(7/16) I noticed that when I executed orders using hotkeys, same script I've been using for the past few months, it got routed through ARCA while my stop order got executed through LAMP.

I have already sent them an email but I'll email you just to be on the safe side.

[Apeoples3580 3]

Hi Carlos,

I had the same problem on Thursday and Friday. Are they reimbursing us?

 

[Jay 5]

15 hours ago, david10p said:

Hey Carlos, 

I did not have this issue on 7/11 and 7/12, but I had it yesterday(7/15) where they applied the old rates to my trades.

Today(7/16) I noticed that when I executed orders using hotkeys, same script I've been using for the past few months, it got routed through ARCA while my stop order got executed through LAMP.

I have already sent them an email but I'll email you just to be on the safe side.

Hi David

Ahh that's bad. I have been facing this issue since 7/11 but if you faced this on 7/15 and 7/16 that means that this is getting worse instead of getting better.

I have been in touch with CMEG but they told me that they are coordinating with DAS to find a fix. Working in IT myself, I know that this might take a long time as they are not able to figure out the cause of the issue.

As per Carlos in the chat yesterday, they should fix it by Wednesday but I am not sure as the response given to me was vague.

This is bad as I only started live trading last week with a positive week but then got struck by huge commissions. I will need to take less partials now until CMEG fixes the issue. 

The weird part is that this is happening to some users and not all the BBT members. Not sure why I am cursed.. lol.. Thinking of moving to Alliance but that will be another 1-2 weeks of process transferring my funds from CMEG to my bank to Alliance. Plus, need to pay the withdraw/deposit fees. The best bet is to give CMEG some time to fix this issue. Until then, limited trades and SIM trading for me.

@Carlos M. Relying on you buddy.. You got direct contact with CMEG but we get vague answers from the customer service guys. Hopefully it's back to normal in no time. Thanks for all the help with this issue.

[david10p 1]

6 hours ago, Jay said:

Hi David

Ahh that's bad. I have been facing this issue since 7/11 but if you faced this on 7/15 and 7/16 that means that this is getting worse instead of getting better.

I have been in touch with CMEG but they told me that they are coordinating with DAS to find a fix. Working in IT myself, I know that this might take a long time as they are not able to figure out the cause of the issue.

As per Carlos in the chat yesterday, they should fix it by Wednesday but I am not sure as the response given to me was vague.

This is bad as I only started live trading last week with a positive week but then got struck by huge commissions. I will need to take less partials now until CMEG fixes the issue. 

The weird part is that this is happening to some users and not all the BBT members. Not sure why I am cursed.. lol.. Thinking of moving to Alliance but that will be another 1-2 weeks of process transferring my funds from CMEG to my bank to Alliance. Plus, need to pay the withdraw/deposit fees. The best bet is to give CMEG some time to fix this issue. Until then, limited trades and SIM trading for me.

@Carlos M. Relying on you buddy.. You got direct contact with CMEG but we get vague answers from the customer service guys. Hopefully it's back to normal in no time. Thanks for all the help with this issue.

Today I was getting routed through SMAT instead of ARCA when using hotkeys. Seems like they are working on it but still not fully fixed.

[Carlos M. 230]

21 hours ago, Apeoples3580 said:

Hi Carlos,

I had the same problem on Thursday and Friday. Are they reimbursing us?

 

Hey, how are you? Long-time we do not connect hope all is well. 

Yes, that is the plan, I will be checking my statement tomorrow after the open and following up with CMEG if the problem still persists and if reimbursement is not showing. They did give us a heads up that this would take some time to correct. 

 

8 hours ago, david10p said:

Today I was getting routed through SMAT instead of ARCA when using hotkeys. Seems like they are working on it but still not fully fixed.

David, I noticed that as well on my orders. So is clear that they are working on correcting the problem and then addressing the old commissions charges. 

Look out for update tomorrow in the late morning to early afternoon. Thanks.

[Carlos M. 230]

UPDATE: 

As of 10:30 this morning, I received an update from CMEG on the current issue:

1. Statements are being adjusted to the correct BEARBULL commission structure. If you look at your statement now you will see yesterday will be showing correctly and by the end of the day, you will see the rest of the days also adjusted. 

2. Programmers are working on fixing the issue, so it does not keep occurring in the future, but if it does happen while they are working on the change, they will address the fees and correct statements. 

From my end, I see that CMEG is doing an excellent job staying on top of this issue and making sure everything is corrected and working forward. Please be patient as they get this all resolved. Thanks everyone!

FYI:

Please make sure that your platform is up to date with the latest version and that you are using the LIMIT and MARKET routes on your hotkeys and hot buttons on montage. Also, make sure you are using DAY as the time in force on Hotkeys and hot buttons as well. 

[Jay 5]

15 hours ago, Carlos M. said:

UPDATE: 

As of 10:30 this morning, I received an update from CMEG on the current issue:

1. Statements are being adjusted to the correct BEARBULL commission structure. If you look at your statement now you will see yesterday will be showing correctly and by the end of the day, you will see the rest of the days also adjusted. 

2. Programmers are working on fixing the issue, so it does not keep occurring in the future, but if it does happen while they are working on the change, they will address the fees and correct statements. 

From my end, I see that CMEG is doing an excellent job staying on top of this issue and making sure everything is corrected and working forward. Please be patient as they get this all resolved. Thanks everyone!

FYI:

Please make sure that your platform is up to date with the latest version and that you are using the LIMIT and MARKET routes on your hotkeys and hot buttons on montage. Also, make sure you are using DAY as the time in force on Hotkeys and hot buttons as well. 

Thanks for the update. Report looks good. I think they forgot to fix the ECN fees. We are not getting the ECN at $0.0025 per share but is calculated dynamically depending on the liquidity. Not a deal breaker if CMEG try to fix it without breaking the commissions. Yesterday I paid almost the same ECN as my commissions which is a bit distressing but way better than $3.95 commissions that I was paying for the last few days..also got the reimbursement this morning.

If you contact CMEG again, please let them know the about the ECN issue. 

Thanks for all your support. No doubt CMEG is listening to us specially when you have a contact with the higher authority there. Talking with tech support is a hit or miss. 2/3 times I was served by people who didn't have a clue what's happening and gave false promises but the one guy in tech support I talked to yesterday was very helpful and looked at my trades real time to figure out the route and commissions.

[Jiri 2]

21 minutes ago, Jay said:

Thanks for the update. Report looks good. I think they forgot to fix the ECN fees. We are not getting the ECN at $0.0025 per share but is calculated dynamically depending on the liquidity. Not a deal breaker if CMEG try to fix it without breaking the commissions. Yesterday I paid almost the same ECN as my commissions which is a bit distressing but way better than $3.95 commissions that I was paying for the last few days..also got the reimbursement this morning.

If you contact CMEG again, please let them know the about the ECN issue. 

Thanks for all your support. No doubt CMEG is listening to us specially when you have a contact with the higher authority there. Talking with tech support is a hit or miss. 2/3 times I was served by people who didn't have a clue what's happening and gave false promises but the one guy in tech support I talked to yesterday was very helpful and looked at my trades real time to figure out the route and commissions.

The same with me on Thursday. Some of my orders were routed correctly with the LAMP route (0.0025 USD per share), but some of them were routed SMAT with much higher ECN fee (0.0065 USD per share). All this happened despite I have my hotkeys set to use LIMIT and MARKET and using DAY for the timeframe. I am going to send an e-mail to the CMEG customer service, because my ECN fees for yesterday are higher than commissions. Is there anybody else with the same issue?

[david10p 1]

Has anyone had their commissions from previous days adjusted to the right amount? It looks like that it is fixed now as my commission and ECN fee are the correct amount since 7/17, however the commission from days previous to that haven't been recalculated. Just wondering if anyone else has the same issue. 

[Vtrade 1]

I did contact CMEG about my commission fee. I was following up with them last week.  Today they applied credit to my account. 

[Carlos M. 230]

By now all commissions should be corrected, if you still have some dates showing incorrect amount please contact CMEG to adjust properly. 

Also yesterday my trades were routed via LAMP and SMAT on Das Trader Pro but I was charged correctly on the statements. Let's continue to keep a close eye on this for the next couple of days.  I mean we should all be checking this every day to make sure all is good (pointing finger at myself here!).

Seems like the issue is coming to an end and that they might have found a fix to the problem. 

 

[david10p 1]

I called them this morning and they said that they are still working on adjusting the previous days commissions but didn't give a estimated time as in to when it will be done.

I personally have 2 days that still haven't been adjusted, but I believe it will be sooner or later.

[Jiri 2]

On 7/23/2019 at 2:08 PM, Carlos M. said:

By now all commissions should be corrected, if you still have some dates showing incorrect amount please contact CMEG to adjust properly. 

Also yesterday my trades were routed via LAMP and SMAT on Das Trader Pro but I was charged correctly on the statements. Let's continue to keep a close eye on this for the next couple of days.  I mean we should all be checking this every day to make sure all is good (pointing finger at myself here!).

Seems like the issue is coming to an end and that they might have found a fix to the problem. 

 

I can confirm that after contacted CMEG, all my ECN Fees were corrected to the right price. Despite some of my orders have been routed via SMAT instead of LAMP in recent days, the ECN fees were always charged correctly. 

[david10p 1]

I just got refunded today. I called yesterday and the person I talked to told me that they rebated in batches and that's why it took a while.

Also I'd like to thank Carlos and other community members for helping out and providing updates. Needless to say being a member of this community comes with a lot of perks such as this.

Have a good weekend everyone.