198 trades made, no report received and NYSE:" Your case has been closed". What to do next?

CSEtrader

CSEtrader

Yesterday, once market close, I wrote to NYSETradingSupport, at 16:49:46 EDT 1 June 2018:

From 12 June to 18 August 2013 UBS (Bahamas) Ltd executed or purportedly executed 198 trading orders on behalf of J................... Ltd* in DUST, NUGT, and other ETFs on NYSE Arca Exchange. Some trades were executed or purportedly executed at prices, which did not correspond to Exchange's real-time quotations and therefore are doubtful. UBS failed to provide order identification codes, branch codes, and sequential numbers of any of the said trades. Please advice about appropriate forms and contents of the background information regarding order executions which UBS (Bahamas) Ltd should submit and on which legal or regulatory basis.
Thank you in advance,
I............. (J........... Ltd)*, Nassau, Bahamas


---------- Forwarded message ----------
From: nysetradingsupport<NYSETradingSupport@nyse.com>
Date: 2018-06-01 18:43 GMT-04:00
Subject: CCO .................has been resolved:
Contact: NYSE Trading Support
To: i..........@gmail.com

Your case has been closed. If this issue has not been fully resolved, please reply to this email as soon as possible.

Thank You,

Martin Avery
ICE
NYSETradingSupport@nyse.com

Reference #: CC0...............
Customer: I...............
Company: J..................... Ltd
Date Opened: 01-Jun-2018 16:49:46 EDT
Last Updated: 01-Jun-2018 18:42:39 EDT
Case Summary: Contact: NYSE Trading Support
Environment: Prod

This reply, outraged me, once the exchange should be number one interested entity to create volumes on the market and not on the tables and pockets of white-collar criminals.
What to do next?
Is it possible that the clerk was just running home on Friday evening and should I repeat request to whom?
Thank you for thoughts, suggestions.
*J....ltd is the name of our company, it was our money.
 
Thank you, that's what we have done. but in this case, there were not loses - we simply did not receive reporting and this was NYSE's answer.
 
CSEtrader said:
Thank you, that's what we have done. but in this case, there were not loses - we simply did not receive reporting and this was NYSE's answer.
More...

What do you need the reporting for, and could someone else provide them or be held accountable for them? Don't think the exchange is answerable to you (no contract), but broker is. If you pay your exchange, then you're in customer relationship and can complain to regulators. But collect facts first.
 
Simples said:
What do you need the reporting for,]
To prove that UBS more likely never send our orders to the exchange, the new Madoff case made in the Bahamas for this time.

[QUOTE="Simples, post: 466604ember: 491583" and could someone else provide them or be held accountable for them? ]
I don't know, that why asking for suggestions, for our view there is only NYSE who suppose to be interested that UBS breached their agreements

[QUOTE="Simples, post: 466604ember: 491583"Don't think the exchange is answerable to you (no contract), but broker is. If you pay your exchange, then you're in customer relationship and can complain to regulators. But collect facts first.
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Your tone is certainly unfriendly.. Why? The facts are right here - our broker, who is UBS Bahamas, for the last five years keep sending us the sleep with trade advises, no any exchange number.
 
CSEtrader said:
Your tone is certainly unfriendly.. Why? The facts are right here - our broker, who is UBS Bahamas, for the last five years keep sending us the sleep with trade advises, no any exchange number.
More...

I don't mean to be rude. I mean to be direct and constructive, which can be disconcerting and painful sometimes, but may help clearing things up. In order to clear up misunderstandings, you need to provide facts and present them in a way that is possible for the receiver (broker) to act upon (actionable request). Is NYSETradingSupport and UBS Bahamas the same company, or why are you messaging NYSETradingSupport? Facts would be a list of the mentioned transactions along with transaction IDs, timestamps and relevant information that can be looked up.

If I'm direct, please take it only as possible advice to consider.

Also, what triggered those orders. Could they be triggered from your company somehow, and related to market orders or something similar? If your orders didn't explicitly limit price somehow, it would be hard to legally hold someone else accountable, even in technical glitches at broker sometimes. Depending on the contract, it could be your company's responsibility to oversee the trades as they happened during the day.

I'm a bit curious also: What lessons did you learn from this incident?
 
Simples said:
I don't mean to be rude. I mean to be direct and constructive, which can be disconcerting and painful sometimes, but may help clearing things up. In order to clear up misunderstandings, you need to provide facts and present them in a way that is possible for the receiver (broker) to act upon (actionable request). Is NYSETradingSupport and UBS Bahamas the same company, or why are you messaging NYSETradingSupport? Facts would be a list of the mentioned transactions along with transaction IDs, timestamps and relevant information that can be looked up.

If I'm direct, please take it only as possible advice to consider.

Also, what triggered those orders. Could they be triggered from your company somehow, and related to market orders or something similar? If your orders didn't explicitly limit price somehow, it would be hard to legally hold someone else accountable, even in technical glitches at broker sometimes. Depending on the contract, it could be your company's responsibility to oversee the trades as they happened during the day.

I'm a bit curious also: What lessons did you learn from this incident?
More...
Thank you, dear Simplest.
Now, we have cleared all our trades recorded. Maybe my broken English causing that it is hard for you to see - every trade order was sent by email. And every confirmation as well. The balance of those trades was very profitable. What we are looking for is to have finally the requested date and time sales report, as we normally have from our retail broker which is AAMP futures now.
I am happy to learn that you are not trying to be rude, but why you are asking if UBS https://www.ubs.com/bs/en.html and NYSE https://www.nyse.com/index, are the same company, is it a joke?
Thank you for the idea with timestamps - will send it all on NYSE and repeat my request on Monday.
How can we be responsible for something which was done by our order between broker and exchange? Is it your second joke?
What I, we learn to form this story? And ocean and still learning< here just a couple of first things coming to me:
- we (us personally and all profitable independent traders) and the paid managers are two different worlds and why we are not maliciously intended most of them probably do, out of envy for our courage to be independent traders and to took trades
- the regulations are good and needed and if not for their existence chaos would be and an only small group of individuals would profit. It is our call now to proceed with this prosecution and enforcement of this part of regulations
-never trust your educated Suisse account manager, with nice smile and manners - those are not a guarantee of honesty and professionalism. Request with rigidity all the reporting documents which are must by low

And much more
 
CSEtrader said:
Please advice about appropriate forms and contents of the background information regarding order executions which UBS (Bahamas) Ltd should submit and on which legal or regulatory basis.
More...
Most likely does NYSE not know what the "legal or regulatory" requirements are in the Bahamas between a bank/broker (UBS) and their customers (you). And thus is NYSE not able to answer your question.
 
CSEtrader said:
Thank you, dear Simplest.
Now, we have cleared all our trades recorded. Maybe my broken English causing that it is hard for you to see - every trade order was sent by email. And every confirmation as well. The balance of those trades was very profitable. What we are looking for is to have finally the requested date and time sales report, as we normally have from our retail broker which is AAMP futures now.
I am happy to learn that you are not trying to be rude, but why you are asking if UBS https://www.ubs.com/bs/en.html and NYSE https://www.nyse.com/index, are the same company, is it a joke?
Thank you for the idea with timestamps - will send it all on NYSE and repeat my request on Monday.
How can we be responsible for something which was done by our order between broker and exchange? Is it your second joke?
What I, we learn to form this story? And ocean and still learning< here just a couple of first things coming to me:
- we (us personally and all profitable independent traders) and the paid managers are two different worlds and why we are not maliciously intended most of them probably do, out of envy for our courage to be independent traders and to took trades
- the regulations are good and needed and if not for their existence chaos would be and an only small group of individuals would profit. It is our call now to proceed with this prosecution and enforcement of this part of regulations
-never trust your educated Suisse account manager, with nice smile and manners - those are not a guarantee of honesty and professionalism. Request with rigidity all the reporting documents which are must by low

And much more
More...

Not joking, but wondering if contacting UBS the right way could yield results. I don't know the details so just throwing out ideas.

My experience with brokers is that they are all terrible. Horrible, expensive interfaces, no accountability as per customer agreements and walled by incompetent support. Whenever you have real problems it's hard to get proper feedback and timely help. The way to approach such incompetents is by knowing exactly what to tell them to do and push the right buttons so they have to do it.

Not sure why exchange should help you if you are not their customer. They are for profit company and seek to minimize/externalize risks as well. No real accountability. They all cry for gov help when they fuck up, but otherwise steal democracy from people.
 
There are plenty of reasons why trades can be executed at prices that differ from the order book of the NYSE Arca (block trades,

They can also be executed on exchanges and trading venues other than the primary listing venue too (for example, only 69823 shares of DUST were executed on NYSE Arca on June 12 2013, but there were a total of 589139 shares traded that day according to the consolidated tape).

Just because you don't understand how the market works, there's no need to get angry with NYSE.
 
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