I just sold PG at 62.00 right after the close at 4:01:57......which was 3 points away.......my compliance officer called ARCA to break this trade. ARCA in turn called the other side of the trade, who offered me 64.05......I declined and now, ARCA will arbitraily decide if the trade stands or they'll break.... does anyone have any experice w/ this? I heard AH trade break is 2 points or 20%........
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Urgent.....help on trade break
- Thread starter forsalenyc
- Start date
Quote from forsalenyc:
I just sold PG at 62.00 right after the close at 4:01:57......which was 3 points away.......my compliance officer called ARCA to break this trade. ARCA in turn called the other side of the trade, who offered me 64.05......I declined and now, ARCA will arbitraily decide if the trade stands or they'll break.... does anyone have any experice w/ this? I heard AH trade break is 2 points or 20%........
I don't think you will get it, the are being stupid about trade breaks lately, I had situation before market where the stock closed at $7 and I keystroked it at 4.25$ or something, they told me the market was there and since I hit it its mine. Please keep us updated.
Quote from swiftmike99:
I don't think you will get it, the are being stupid about trade breaks lately, I had situation before market where the stock closed at $7 and I keystroked it at 4.25$ or something, they told me the market was there and since I hit it its mine. Please keep us updated.
ARCA arbitraily ruled it at 64.05. which is what the couter party offered. o well, I guess i gave someone an early x-mas gift.
Quote from forsalenyc:
I just sold PG at 62.00 right after the close at 4:01:57......which was 3 points away.......my compliance officer called ARCA to break this trade. ARCA in turn called the other side of the trade, who offered me 64.05......I declined and now, ARCA will arbitraily decide if the trade stands or they'll break.... does anyone have any experice w/ this? I heard AH trade break is 2 points or 20%........
How many shares and how much does your company do with ARCA? that wil determine the break....BUt the B/D signs a form with ARCA that basically states that no matter what...Arca is immune.