Globex Market Order 5 minute fill????

[FX-Trader]

Originally posted by damonjanis
This is all part of the risk of electronic trading. And the exchanges and brokers all make it very clear that they aren't responsible for losses, even when it's their fault. You have to account for these types of problems/losses in your trading strategy. I doubt it will ever be error free.

Yes, but why treat electronic trading different from pit trading ("open outcry") ? It´s ridiculous. There are only historical reasons for all these special risk disclosures ("you know it´s electronic").

 

[Pabst]

Originally posted by FX-Trader

Yes, but why treat electronic trading different from pit trading ("open outcry") ? It´s ridiculous. There are only historical reasons for all these special risk disclosures ("you know it´s electronic").

Who's holding a gun to your head to trade electronically. For everything that's on the screen there is a pit traded version. Pick up a phone and wait ten minutes for your fill. What are firms supposed to do. Make good every costumer who says, "If I could have, I would have gotten out." What about the aftermath of 9/11 when trading was shut down almost a week because of the physical plant at the NYSE and AMEX. I had call options that expired worthless the next week, but I never beefed that I was losing a weeks worth of time decay because if these exchanges were all electronic up in Fargo they would still be open.