I respectfully dissent... e.g. Looking at IBM time and sales for yesterday you can clearly see that stock closed 16:01:04 65,900 shares 89.12 NYSE printed 60,000 shares of stock between 16:00 and the close. All those trades stand. The broker surely has a branch seq. number representing the trade, but I do not know of any rule that forces him to disclose it to the customer.
Qazmax: Are you going to keep arguing until we all say YOU ARE CORRECT? I happen to have worked on the NYSE floor both behind the post and in a booth. I have never had to "bust" a trade printed between 4:00 and 4:03. Now if you have a moody BUY side trader or block trader that does not want the report, guess what.......poof it goes away. Since I know you are NOT referring to to the institutional side of this business then take an out. I will take any of your busted trades if you PLEASE STOP arguing for the sake of arguing! Have a nice weekend. ebo
those prints were completion of an MOC order imbalance, not day orders printed after 4pm regardless of if the BD will disclose the BS #, he MUST disclose the actual time of execution
It was decidedly not a winner. It was CVTX, and after the close that day (this past Thursday) it went down 25%. Thanks to all for the replies; I'll talk to the broker again and see if someone else there is willing to look into this a little harder.
This brings up an interesting question: How DOES the NASDAQ close? All I can see is that at 4:00 the MMs stop displaying their quotes, but other than that there is no real close. I wonder how they determine the closing price for NASDAQ stocks. It wouldn't surprise me if they just took the last trade executed at or before 4:00:00.0000000. In order to determine whether you are within your rights to have the trade busted, maybe you should take a look at the paperwork you signed when you opened your account. It might just define "DAY" orders.
but if the fill was at 3:59:50 instead and the stock opened up $1.00 the next day would you have kept it ? nasdsaqtrader.com does not list the stock as having been halted if you did not want the fill could not you could have told the broker to sell it or you would sell it AH before the news broke 1-2 hours later? what a mess ... good luck sir I once had a stock go $30 against me AH ( RMBS) and I could not get out using my broker's software and did not have a backup broker to use to try to get out
Now the truth comes out! So we are talking about a NASDAQ stock, which you did not bother to say. What time did you get the report that you were filled? That is the real issue here. If you called the broker immediately THAT DAY, you may have a leg to stand on. If the MM printed you late for a legitimate reason it is debateable. You really need to pull times and sales and see what traded outside of you and what time were you printed on the tape. As the previous post said a MM has 90 seconds to print or he must print it "sold Sale", out of sequence. If you are trying to weasle out of the print because you forgot to cancel it and did not like the earnings blow up.....well good luck in arbitration.
What you don't mention is that CVTX actually traded up in afterhours after their announcement. You certainly had your opportunity to get out in afterhours. Does your broker not allow afterhours trading? Seems like you just want somebody else to take your trading loss.
who was the broker? if you were direct access the naz doesn't close at 4. you have no grounds to cancel that i know of. even on the nyse i have gotten fills as late as 10 min after the close. i remember one instance with aol where there was a huge moc gap up for many points that took about 10 min to print.