Island Fills 4/28

Discussion in 'Order Execution' started by twinpeaks, Apr 29, 2006.

  1. sprstpd

    sprstpd

    Bottom line is if you get oral confirmation that your order was cancelled, then you have a very strong case against them if they decide to pin a loss on you.
     
    #11     May 2, 2006
  2. qazmax

    qazmax

    This sort of thing happens every day at brokerages. Make sure you note the time you called and whom you spoke with every time somone statuses an order for you. Never let them off the phone without telling you it is "filled" or "out". Otherwise they will try and stick it to you.

    Many times a broker (service rep) just looks at the current price of the stock to decide if a client is due a fill and does not have time to call the ECN and status it for you. Even if they can call there is no guarantee an ECN rep will pick up the phone since there may be thousands of calls at the same time when lines drop.

    :)
     
    #12     May 2, 2006