Anyone here bought my shares of BCOR after hours 2 days ago?

Discussion in 'Order Execution' started by gate, May 5, 2017.

  1. gate

    gate

    There was a technical glitch and my 4300 shares were sold $10 below the closing price on ARCA on May, 3rd at 4:21 pm. A loss of $43,000. If you see many posts from me in the coming days, don't be surprised. I'm trying to find some answers to convince my broker that this order should be cancelled. I can't afford to lose that money. If you're the buyer, please have a heart, change your mind and accept to cancel that trade. If you feel that you can give me some clues on how I can state my case, feel free to do so. That would be very appreciated.
     
  2. Baron

    Baron ET Founder

    All you need to do is have your broker review the trade and confirm that there is no way that this trade was executed at the NBBO, or National Best Bid or Offer. The NBBO is a regulation that requires that your sell order be executed at the best bid price available at that time.
     
  3. https://www.nyse.com/publicdocs/nyse/markets/nyse-arca/NYSE Arca Rule 7.10.pdf

    Clearly erroneous. That should have been broken immediately. Did you file in a timely manner?
     
    Baron likes this.
  4. Baron

    Baron ET Founder

    What broker are you using?
     
  5. gate

    gate

  6. Robert Morse

    Robert Morse Sponsor

    A few things to consider:
    • I don't know if these rules are in effect in ETH
    • Requests for review must be received within thirty (30) minutes of execution time
    • With electronic trading, you are responsible for your actions, not the software, broker or the exchange

    I wish I could give you better news.

    Bob
     
  7. gate

    gate

    I'm in Montreal. My broker is Disnat.
     
  8. After hours trade the day before an expected earnings release ?
    Is the US Symbol BCOR ?
    You got hosed from your story, but the may have been the after hours bid.
     
  9. gate

    gate

    Since I called by brokerage firm right after the event and they didn't do anything to cancel that order before the morning after, do you think that they could be held responsible?
     
  10. Nbbo does not apply to extended hours.

    Sad day man, I'm genuinely sorry for that.

    Edit: oops, wrong link, just search "nbbo extended hours"
     
    #10     May 5, 2017