Trade Cancellation/Adjustment Policy for Bonds
In the event that a transaction is deemed to be clearly erroneous, as determined solely by Interactive Brokers, IB reserves the right to modify, cancel or correct the transaction. For this purpose, a "clearly erroneous transaction" is defined as the execution of an order: (i) at a price that was substantially away from or inconsistent with, the market for that security at the time of execution, and/or (ii) on terms (e.g., symbol, quantity, or price) that would reasonably appear to be entered in error under the given circumstances.
For all such trades, a participant in the transaction ("Participant") must notify IB within thirty (30) minutes of the execution of the trade by using the Trade Cancellation Request tool located within Account Management. While requests received via telephone will also be processed, such requests may involve wait times which, in the aggregate, may lessen the likelihood that the petition is submitted in time. Please note that IB does not support email communications for this purpose and requests sent through the Help & Contacts link on the website are not intended for matters of urgency.
IB reserves the right to initiate a review of a transaction, regardless of whether a Participant request has been received, if IB determines, in its sole discretion, that circumstances warrant such a review. The guidelines outlined above are designed to provide a level of protection for our customers; however no policy can anticipate every situation. Each request will be considered on a case-by-case basis and such requests will be resolved promptly. IB reserves the right to make final determinations in the interest of maintaining a fair and orderly market.