Can a trade be busted after 3 day settlement?

Discussion in 'Trading' started by Dominic, Sep 23, 2008.

  1. Dominic


    I had a buy order in an ETF that was hit Friday morning couple minutes after opening; I still have not received a call from broker (Charles Schwab) in regards to trade being busted; it was exucuted via ARCA.

    Any idea why it hasnt been busted? Are you safe after settlement period?

  2. was it beneficial to you? and no they can't be busted after the settlement. maybe some more details about the trade would be good too.
  3. Dominic


    Yes, trade was beneficial to me; it was only 100 shares; yet I thought that I read somewhere that they can come back weeks later and bust a trade; it was on the AMEX via ARCA; way out of the market.

    I dont want to exit trade then get a call from broker week later stating that I'm illegally short.

    I thought that if the trade was clearly erroneous, then it would have been busted in a couple hours; it has been days.

    Curious if I should call broker tomorrow to verify or could that raise a problem?