CBOT mistrade policy (YM fiasco)

Discussion in 'Index Futures' started by Banjo, Jul 9, 2003.

  1. Banjo


  2. from


    Arbitration Procedures:
    Arbitrations are limited to trades that are outside the no bust range. A notice of intention to
    arbitrate must be filed within ten business days after the date of the mistrade. The party that
    caused the error may be held responsible for realized losses incurred by counterparties to the
    busted trade.

    The party responsible for the error must pay a $250 fee for the first five instances, $500 for the
    next five instances, and $1,000 for each subsequent cancellation within a calendar year.

    any invocations of this rule known?