How to verify my trades independently of my broker?

Discussion in 'Trading' started by freetrader, Jun 11, 2002.

  1. A lot of thanks for everybody!

    I wouldn't like to disclose my broker now as I'm not sure about my case. I need further investigation.

    Because I've traded NASDAQ stocks I found than anyone is able to buy for $25 the official "Times & Sales" report from the NasdaqTrader:

    I suppose the report has to reflect accurate data.
    #11     Jun 11, 2002
  2. flier


    Request a detailed audit trail from the compliance officer of your broker- do this in written letter and fax- e-mail it to them. Request the reason of the bust. Audit trail will reveal a lot- it is your right and their obligation to provide it. They have to do it.

    #12     Jun 15, 2002
  3. "The bad old days where an exchange might bust a trade 15 mins after the close simply don't exist today. Most order clearing occurs either continuously or in a batch mode, once every 15 mins."

    ive had trades canceled after 3 hours as recent as a month ago.when i complained i was told there is no set time for busting a trade that is clearly in error but if its not busted by the next day your probably safe.
    if someone could prove this is not right i would sure like to see it because i lost 3k in profits on that one.
    #13     Jun 15, 2002
  4. skynet


    who is your broker? if yuo dont feel like disclosing it publicly...send me a private message. I would appreciate
    #14     Jun 15, 2002
  5. my broker is ib.but ib doesn't make the decision on breaking trades.the exchange does and every ecn has different my research i have figured out it works like this.the customer who feels he got a bad trade complains to his broker.his broker contacts the exchange and they decide.then they inform your broker and your broker calls you.its not realy something you have any choice in but i have gotten them to split the differance a couple of times.
    #15     Jun 15, 2002
  6. skynet


    i hate most about trading. Not be sure if all your trades stand or that they can be busted 3 months later. When you thouhgt that you sold the stock you were long 1 month a go at 60 which is now 10. Does anyone know what are the rules for How far in time can a trade be busted? Sometimes in the back of my mind i wonder if any of the 100s of trades a day i place will be busted..

    also does anyone know of a broker that has the least track record of busting trades or at least guarantees any such action?

    can anyone help?
    #16     Jun 15, 2002