whats the arca bust policy? i got a nice large long fill at the premarket open in the iwm and am now worried that it will be busted so am afraid to sell it. any ideas on how to protect myself? right now its 2 bucks in the money.
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Arca Bust Policy
- Thread starter Free Thinker
- Start date
bump. need info. will arca bust premarket trades?
its not up to your broker. they have to do what arca tells them. i was hoping someone had been through it.Quote from robbie380:
call your broker
i am breathing easier since nothing has happened yet. they have a time limit but off hours trading throws a different factor into the mix. i figure i am not totally safe till eod. we will see.
this is all i could find.
http://www.nyse.com/pdfs/Obvious_Error_Policy.pdf
I think anything $1.00 away from the last can be busted, but I wouldn't worry too much if you havn't heard anything by now. From my experience, busting an ARCA trade isn't the easiest thing to do.
If you do receive a call, you can always argue that it's not your problem you got the fill and you refuse to have the trade busted. If they are still insistent, offer a price improvement - say the difference between your fill and the pclose.
If you do receive a call, you can always argue that it's not your problem you got the fill and you refuse to have the trade busted. If they are still insistent, offer a price improvement - say the difference between your fill and the pclose.
Quote from vhehn:
its not up to your broker. they have to do what arca tells them. i was hoping someone had been through it.
i am breathing easier since nothing has happened yet. they have a time limit but off hours trading throws a different factor into the mix. i figure i am not totally safe till eod. we will see.
this is all i could find.
http://www.nyse.com/pdfs/Obvious_Error_Policy.pdf
i meant call to see if anyone filed on it.