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Exchange Bust Rule
- Thread starter bbk
- Start date
on arca the guideline is $1 out of market or 10%. if no one complains and it's even outside the guideline they will usually let it stand, as long as it's within reason. if the other party complains arca issues a ruling. they will usually let the trade stand if it's within the guidelines but sometimes they will break it. ultimately it is their discretion. there is also the possibility of a trade adjustment if both parties agree.
on nasdaq it is 20% away for a trade break.
on nasdaq it is 20% away for a trade break.
Thanks for reply.
Are sure about the 20% away for a trade break on nasdaq? I used to have one trade only 8% away but got busted.
20% away from the market, so what is the market price? The price of the next trade?
Are sure about the 20% away for a trade break on nasdaq? I used to have one trade only 8% away but got busted.
20% away from the market, so what is the market price? The price of the next trade?
Quote from fullblotter:
on arca the guideline is $1 out of market or 10%. if no one complains and it's even outside the guideline they will usually let it stand, as long as it's within reason. if the other party complains arca issues a ruling. they will usually let the trade stand if it's within the guidelines but sometimes they will break it. ultimately it is their discretion. there is also the possibility of a trade adjustment if both parties agree.
on nasdaq it is 20% away for a trade break.
Is that anyway we can complain about it? I don't even got any exapanations. A few thousands profit was gone.
Quote from trom:
I've been involved with many busted/adjusted trades. I've gotten explanations from NASDAQ that are completely inconsistent and the opposite of the reasoning given for other break decisions. They have a bunch of guidelines. But, it usually just comes down to "we do what we want."
Quote from bbk:
Is that anyway we can complain about it? I don't even got any exapanations. A few thousands profit was gone.
there is usually a small time frame within which you can appeal the decision. for arca it costs $500. you have to get your firm to make the appeal. when you have a trade that is borderline a lot of it comes down to your firm. if they fight for you they can prevent a break or at least get it adjusted. if they don't arca usually just breaks it.
I find nasdaq a lot more inconsistent than arca. nasdaq says 20% but they do what they want basically.
You mean I can ask my broker to fight for me when I was told the trade was under review? Good to know.
Quote from fullblotter:
there is usually a small time frame within which you can appeal the decision. for arca it costs $500. you have to get your firm to make the appeal. when you have a trade that is borderline a lot of it comes down to your firm. if they fight for you they can prevent a break or at least get it adjusted. if they don't arca usually just breaks it.
I find nasdaq a lot more inconsistent than arca. nasdaq says 20% but they do what they want basically.
Quote from fullblotter:
there is usually a small time frame within which you can appeal the decision. for arca it costs $500. you have to get your firm to make the appeal. when you have a trade that is borderline a lot of it comes down to your firm. if they fight for you they can prevent a break or at least get it adjusted. if they don't arca usually just breaks it.
I find nasdaq a lot more inconsistent than arca. nasdaq says 20% but they do what they want basically.
sadly, you have been misinformed.
Bust thresholds range from 3-10% for RTH on nasdaq. I believe these guidelines have been implemented marketwide for some time now.
Here's a link with all the details.
http://nasdaq.cchwallstreet.com/nas..._8_12&manual=/nasdaq/main/nasdaq-equityrules/
- mnx