198 trades made, no report received and NYSE:" Your case has been closed". What to do next?

Discussion in 'Order Execution' started by CSEtrader, Jun 2, 2018.

  1. CSEtrader


    Thank you! And totally agree about brokers generally, biggest is worth! Fortunately, since 2011, we have an account with AMP futures, whom I delighted to discover is also the sponsor of this blog, and we had some minor issues and always resolved it. the truth is that we had not yet traded real volumes with them, but I hope the quality will be the same. Returning to UBS, we obviously contacted that many times and they keep providing wit their trading advises, where there is no any number from the exchange or clearinghouse. So at this point, the only exchange can help and give some directions, once exchanges are first to be interested to have volumes. Will try tomorrow to send details, as you suggested and will see what outcome will be.
    #11     Jun 3, 2018
  2. CSEtrader


    I am not getting angry, why you conclude it? I am trying to bring to the light another alleged breach of UBS, which is in interests of exchange - once exchange need volumes on exchange and not on UBS' desks, and in interests of us, experienced traders - once the newbies coming on the market, as were we in 2008, and experience losses, those losses should go in the pocket of experienced traders, not banksters. And also when a newbie losing on the exchange he/she will learn really how the market moves and maybe one day will join our tribe of traders, but when a newbie is hit by bankster's tricks he is coming out with lost money and blaming markets and traders as the profession to impossible to accomplishh. His ego and anger make him our enemy in stead of admirator and maybe collegue one day.
    #12     Jun 3, 2018
  3. I had a clearly erroneous trade back in 2000 that wasn’t broken.

    See if you can do something about that too.
    #13     Jun 3, 2018
  4. CSE, I have read your blog. However, I am unclear about the facts. Did you put up your home in the Bahamas as collateral in return for a loan from UBS? You used this loan amount to trade, correct? UBS gave you reports showing that you had trading losses. That is how UBS was to take your home from you, correct?
    #14     Jun 3, 2018
  5. CSEtrader


    thank you for your time and interest.
    The thing which is apparently very hard to believe for the ET community and I am assuming as well for you - there were no losing trades, the balance of trades was a good profit. On 31st of August 2013, we were having a net profit of 30.000USD. Even with delays, we were trying to work out the solution, having already been hooked up, tightened with them by loan, collateralized by our home as you clearly understand.
    Since we tried to withdraw our profit, the pressure on us via emails and calls were getting worse and worse. Once we had complained about late executions they blackmailed us to review the mortgage conditions.
    I am attaching the sample we created, showing the delay of executions in only two weeks. So it should help to understand the true picture. You can see under different columns what was prices, the market price at the time we put in order, the delay in minutes and the difference in price if executions were within 20 seconds.. Not even the standard 2-3 seconds, but at least 20 seconds.
    The rest, I hope, you've seen on our website - they, UBS:
    1. refused to refund us for those delay in executions
    2. refused to release to us the money of loan which was due in four years even if we offered them pre-paid interests.
    3. refused to transfer our loan money to another location, like NYC, London or Zurich, where we can use their electronic platform. They make us believe that were looking for a solution but
    4. they declared to go into liquidation.
    5. they sequestered money from our account
    6. they obtained by frauds and perjury and order against us, lying to the judge:
    6a omitting totally the whole activity of trading
    6b declaring that we were in arrears to pay interests, that we were not should they take it pre\-paid and left us trade. Well, in case of failure(from their point of view we must consider it), we would be able to sell the house at market price before the loan expiration
    6c lied that we were in breach of maintaining 700K on the trading account. But this was not a binding condition, there was no reason to hold any money on their account once the UBS Bahamas is close! And even if that, would they refund us delays, as for 17 September, the balance on the account was over 700K.
    7. they evicted us from home on an interlocutory order, for what reasons? If they are in liquidation, claiming 900K against us, we are claiming 2 mln plus damages or 6 mln, whenever the court decides is just. The house value is 3.6 mln. So, why to take possession of what? From the legal point of view, the order for possession is made just to prevent from an eventual sale and cashing the whole price, with unpaid debts. But not for through in anunbelievablee hardship the whole family before the final decision.
    We have still been unheard on our merits in any court. And the Deputy registrar at the Court of Appeal went in vacation for 5 weeks! And on my question how it is possible, in our very urgent situation, no answerr. And no one else is dealing with us, once our file on her table! Would be funny if wasn't true.
    The same judge who gave the order for possession in 2015, now on his judgment, on 21 December 2017 [ https://letsmaketheworldfairer.word...onology-of-court-proceedings-with-documents/], declared that if the facts were not hidden from himб he hardly believe that he would make this order and that our appeal is competent.
    I am not sure why most of ET community is turned irritated and not defensive of our story.. probably because even in the trading planet 94% are not successful and still thinking in stereotypes.
    Last edited: Jun 3, 2018
    #15     Jun 3, 2018
  6. CSEtrader


    Are you joking? :D
    We don't, we are going to give in charity all that we will cash net from the three banks, minus expenses and debts payment. So one of the things I would like to do is to bring knowledge to the novices, out of USA, Canada, UK etc countries, where people know about trading,, to bring knowledge about the rights and regiulations.
    #16     Jun 3, 2018
  7. jharmon


    It sounds like they did execute your trades, just not at the prices you were expecting.

    If you were requiring sub 2 second execution, I'm not sure why you were using offshore entities to do this.

    From the fills you describe, you were trading high-volatility securities, with large leverage, in a relatively illiquid market and your orders simply blasted through a few levels of depth in a rapid moving market.
    #17     Jun 3, 2018
  8. CSEtrader


    We lived here, in offshore juridisction., and used their offer to "Unlock your propriety value, make your real estate work for you", introduced to us by a "friend", manager at UBS. The agreement was that we will trade half of them on through their facility, which sounds perfect to us, once UBS is one of the leaders of industry. [http://www.guinnessworldrecords.com/world-records/largest-single-trading-floor] and there are more points in their brochures and on the internet.
    Even if located in the off-shore, we were assured that the whole banks' efficiency will be at our service, this is how we put even home as collateral. The straight points from the first day were that we are professional (well, a novice at that time because we were still under the pressure of"you need more capital to make real money", and others mantra's of Suisse banksters), so we needed fast executions. When after 4 months the platform did not come, we made them sign by email that executions will be within 20 seconds and this was never true. As you notices, with the volatility of this market.
    The reporting, with the research of which I will proceed aftermarket today, it must from the broker. They have to disclose what they used to bring out orders to the market, the clearinghouse number. You seem for me to be from bank's side, so maybe you can help with the h correct wording. thankyou.
    As the time of executions - delay cannot be explained by liquidity, which was sufficient, but only by sad fact - negligence and unprofessional behaviors or UBS' team.
    #18     Jun 4, 2018
  9. jharmon


    Your PDF record contains many errors.

    If you really want to prove it, get a Time & Sales record for the day, your exact timestamps you submitted the order, the exact timestamps they were executed, and the state of the market quotes (aka L2 depth) at time of order, at T+20 seconds and at actual execution time.

    If, indeed, your orders were filled as shown, you were attempting to trade a highly volatile market and expecting fills of your quantity at the given order level. The execution, especially, of your sell-to-close orders. It's called slippage.

    I don't even know what this means "The approximate minimum cost of the call execution respect electronic aces on September 18"

    I certainly hope you can get your home back though.

    Next time you should start with much smaller positions.
    #19     Jun 4, 2018
    CSEtrader likes this.
  10. CSEtrader


    Thank you. But it looks ,we still speaking two different languages,. I hope we can work it towards the justice and buonsense.
    To address your message, there are number of issues . I would like just to take ftwo:
    1. - yes , exactly Time & Sales record we are requested from UBS Nassau and reported it to Ubs Americas twise ( back in 2013 and now again, in April 2018, as it was suggested by some good ET members) - we had not received any.
    2. Which are errors on our PDFs, please?

    And today BYSE-Arca's Customer service, as you predicted, explained that they can nor help, they basically do not won be involved on what there customers (banks, hedge funds) are doing on their clients.....? Thank you for good wishes for our house - we are.minded to make a traders retreat therre with the spevcal omage to literature and Holocaust, in the memory of my mothet.

    The whole outcome of this battle, once it will become positive and in our favour , ad we hope and working toward, we will dedicate to the charity, minus our debts, six month for living and 5000$ account,.
    Last edited: Jun 4, 2018
    #20     Jun 4, 2018