Any news out?

Quote from peterfigliozzi:

something about possible busting of trades just came over IB
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Any ideas on when this will be resolved?

This is bull crap. How can I trade if I don't know what i have on.
 
Quote from heilbronner:

Something else. I did a trade in pre market today on Island which turned out be quite profitable. Why can someone now come to me and say that this trade is going to be busted????

IMHO, trade done, so what!
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If it were only so easy...

INET is probably protecting a big customer who made a big ass mistake this morning pre-market. Of course if I made the mistake I would be out of luck. Not a level playing field in this respect. The fact that a bust can come at 1:30pm on a pre-market trade is criminal in my book. Of course there is nothing you can do about it which makes it that more irritating.

Did anyone notice some idiot bid 2x the closing price on Archipelago for hundreds of listed stocks in the pre-market? That is probably what caused the problem. It was like Archipelago (which tends to have a bid at 0.01 and an offer at 2x the closing price) screwed up their auto-market-making algorithm. That moron probably caused a chain of events to happen which caused lots of people to get nice fills on INET this morning pre-market.
 
Quote from ctrader:

This is bull crap. How can I trade if I don't know what i have on.
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Yep, probably one of the most irritating positions to be in is to not know your true position.
 
Im amazed that a large group of day traders haven't banned
together to file a class action lawsuit containing a list of thousands of trades that have been "busted".

Seems like it would be a strong case when your simply asking for EQUAL TREATEMENT.

Simply show the court the instances of when the "big boys" get
to break trades when they screw up, AT THE PUBLICS EXPENSE,
and how we cant do diddly squat when we screw up.

Just ain't right.

Hmmm... just for fun... could do like those other small time traders did.
Take them to small claims court next time you get screwed on
a busted trade. They won after all :)

I was shocked the NAZ didnt fight this, since it could set some
really bad precedent for the BIG CASE.


peace

axeman
 
Quote from sprstpd:

Yep, probably one of the most irritating positions to be in is to not know your true position.
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So when is this supposed to be resolved? If I haven't received a bust yet I'm good?
 
Quote from ctrader:

So when is this supposed to be resolved? If I haven't received a bust yet I'm good?
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I got a bulletin from IB at 4:36pm EST that states:

"Please be aware that the ECN ISLAND has informed IB that any erroneous trades from the events referred to in the previous bulletin have been processed electronically. Please contact IB if you have any questions regarding this issue."

Sounds like your trade would have been busted by now if it were going to be busted.
 
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