Todays mass of erroneous trading at 9:30

H

hmap1

Can you believe Nasdaq is possabily considering a MASSIVE price adjustment over busting the trades outright that are out of range? WTF! How do they get away with this stuff!



NASDAQ Operations has recently updated the status of the following NASDAQ Market System(s) to the NASDAQ Trader website:

NASDAQ MarketWatch is investigating an issue related to a firm that experienced technical problems and potential erroneous transactions. NASDAQ will advise.

Please refer to the link for additional system status updates.

http://www.nasdaqtrader.com/asp/systemstatus.asp
 
NASDAQ Operations has recently updated the status of the following NASDAQ Market System(s) to the NASDAQ Trader website:

NASDAQ has made decisions regarding the NASDAQ Official Opening Prices (NOOP) on the 31 stocks under review. 24 securities will be adjusted. All trades in the Opening Cross will be adjusted to the new opening prices provided. NASDAQ will also adjust pre-market trades from 9:19:00 a.m., Eastern Time, up to and, inclusive of, the Opening Cross, in the 24 securities to the new NOOP value. This is a non-appealable decision. To the extent that these securities are in indexes, NASDAQ has been in contact with the derivatives exchanges and indexers to ensure that the settlement values on any affected indexes will be adjusted to reflect the new NOOP values The 24 specific securities to be adjusted from the original list of 31 stock are: KNBWY MRLN NASB NATR NTRT ONFC PTSI PWOD SAFT SHOO SLGN SMTB STNR SUPX SURW THOR UFCS URGI UVSP VALU VITL WDFC WSTC ZOLL
 
After further conversations with the industry and UTP exchanges, and in consultation with the Securities and Exchange Commission, NASDAQ has decided to alter its decision on trading actions that occurred between 9:19:00 a.m. and 9:32:59 a.m., ET. However NASDAQ’s decision to adjust prices for trades that were executed within the Opening Cross as already communicated in Head Trader Alert #2005-069. To be consistent with UTP exchanges, and in order that the entire industry be in full coordination, NASDAQ will break any and all trades from 9:19:00 a.m. through 9:32:59 a.m., ET, not including the Opening Cross, that are more than 15% away from the previous NOCP. This includes breaking the pre-market trades in the 24 adjusted securities announced in Head Trader Alert #2005-069. The list of securities that will be affected by this decision will follow shortly and will be posted on NASDAQTrader.com.
 
They screwed up this sentence:

"However NASDAQ’s decision to adjust prices for trades that were executed within the Opening Cross as already communicated in Head Trader Alert #2005-069."

Does that mean what was adjusted IS STILL adjusted or busted. CLOWNS!!!!
 
06/17/2005 09:51:46 ET NASDAQ MarketWatch is reviewing executions resulting from the issue related to a firm that experienced technical problems this morning which resulted in possible erroneous transactions. MarketWatch requests that firms NOT CALL to inquire about this problem while the review is underway.

they deside to wait until you close it and then screw you.
what can i say...nice job,well done.
 
long UHAL form 19.00. Got busted. Bought a bunch at 51 and 52. all good! SBSH f**k up. Screw those guys. They shouldn't have busted any. If you can't enter an order correctly you should pay. I don't see nasdaq busting any of my bad trades. If you bought within 15% of yesterdays close you should be fine.
 
Quote from Bob111:

06/17/2005 09:51:46 ET NASDAQ MarketWatch is reviewing executions resulting from the issue related to a firm that experienced technical problems this morning which resulted in possible erroneous transactions. MarketWatch requests that firms NOT CALL to inquire about this problem while the review is underway.

they deside to wait until you close it and then screw you.
what can i say...nice job,well done.
More...

The NASD is nothing but a modern-day equivalent of the mob. They extract their fees, pay their executives outrageous salaries, and when something goes wrong, they fuck the people they're supposed to protect.
 
Quote from PoundTheRock:

The NASD is nothing but a modern-day equivalent of the mob. They extract their fees, pay their executives outrageous salaries, and when something goes wrong, they fuck the people they're supposed to protect.
More...

yep. i got fill way away from my order(in my favor), then-my comp automatically place stop and target. target got filled too, but it still way away from market after 9:32. guess what-i got busted after 4pm,all way from my initial purchase and when i ask IB to bust trade where i close my position(which is still away from market)-they said-no sh**t Bob. your trade bust by SEC(! bs already). and we think we are right. man..now that was something!

----A trade(s) in your account has been busted or adjusted in accordance with the exchange decisions. IB believes that account positions are now correct. Please manage your portfolios accordingly----------------

have nothing against IB, but "another firm" is really good in defense against little retailer.

---------------
On Friday, June 17, another firm experienced a technical issue that caused erroneous trades in certain NASDAQ listed stocks. The issue began in pre-market trading and lasted until 9:32:00am EST, and included the opening cross. NASDAQ determined that the official opening prices in 24 securities would be adjusted to reflect market conditions at the time of the trade.
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why i have to pay for it?
 
06/17/2005 19:23:54 ET

NASDAQ® has completed all adjustments, breaks and replacements, as of 7:15 p.m., Eastern Time. As announced in Head Trader Alert #2005-070, NASDAQ broke any and all trades from 9:19:00 a.m. through 9:32:59 a.m., Eastern Time, not including the Opening Cross, that are more than 15% away from the previous NOCP. Please refer to the NasdaqTrader.com Head Trader alert for a link to the list of 174 securities in which trades have been broken. This is the complete and final list of securities. Furthermore, NASDAQ has made adjustments to the Opening Cross trades announced in Head Trader Alert #2005-069 by canceling the original trades and entering new trades at the adjusted prices.
 
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