SYME on sell only mode

I think it means the Fees they get from doing DD and say “No Thanks” if the Company in question looks like a Going Concern.

Their Accounting is going to look a bit more different due to how they are making money in a new Asset Class.

It’s not your typical Accounting jargon though, agree there!

Do you not have that the wrong way round. If a company is a ‘going concern’ it is expected to pay its ongoing bills and remain in business for at least 12 months.

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Yeah that always catches people out with the word concern. :sweat_smile:

A going concern is a positive thing basically auditors expect to stay in business for the foreseeable future.
:+1:

A negative going concern means they expect closure within the next 12 months.
:pensive:

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I might have. I need to look at my Homework again for Accounting.

They still take DD fees though for businesses that are risky. They just won’t take them on.

Any time now…

@Team212 Any updates on the options you’ve been exploring? We’re currently in close only mode which isn’t quite ideal.

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Have you tried asking IBKR?

It’s a joke but can’t see nobody laughing. @B.E @Bogi.H

Curious to know about this update myself.

The market change doesn’t seem to affect other stocks in the same category.

Is IKBR still ignoring the @Team212 regarding the Market change?

Do we know if this issue has been forgotten about?

More likely they’re encountering the same problem they encountered before and it’s not in their capabilities to fix it.

You can trade on IBRK this stock, so I’m interested in why not on T212?

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I bet it is a simple fix on IKBR’s end of simply flicking the Code on the Market Segment.

Maybe the T212 Team can ask what the issue is and how long it will take to get it sorted as it is a concern that any stock can switch their Market Segment and IKBR essentially refuses to address the issue on larger stocks if T212 ask.

I understand with Penny Stocks that this isn’t a priority but what is to say that it happens on a Large AIM stock or even a FTSE 250 stock?

As someone highlighted you can buy this stock on IKBR but they won’t let T212 Trade it as though they get scraps

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Will SYME ever be able to buy again…??

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That’s a good question. @Team212 , any thoughts?

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As per our latest correspondence with IB - SYME switched market segments on the 27th of July from CCP to SSX3. The latter (SSX3) is not supported by IB hence the reason they only accept sell orders, for the time being.

Should anything change, we’ll let you know right away.

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But didn’t we see many SSX3 stocks on T212 that IBKR also provide?

Maybe I am at a loss about hoe it works but wouldn’t that make those Tickers Sell Only too?

In order to avoid similar scenarios, we wouldn’t add a company that’s listed on an exchange or segment that IB doesn’t support, to begin with,@Venetia1993. If, however, the company is listed on a supported exchange at the time of addition and afterwards moves to a segment that is not supported by IB - you’re right. It would have to be put in sell-only mode.

Make sure to let us know if you had a specific stock that you wanted to discuss in mind. We’d love to look into the situation further. :handshake:

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Hello, has anything changed in this matter?

SYME is still traded on a segment that IB does not support and remains in a close-only mode. Needless to say that if anything changes, we’ll let you know.

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Hey, everyone. :wave:

The close-only mode of SYME has been removed. The instrument is now tradable on the SSQ3 segment, and our intermediary supports both Buy and Sell orders with it.

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