GO TO MEDIA !!!!!!!! GO TO MEDIA this guy is right on Post your loss for world to see, how unfair and rigged the game is
I think this thread really shows the ignorance of traders on ET, busted trades happen all the time, if you sold your longs and thought that there wasn't a possibility of your trades from ridiculous prices being busted then get back to paper trading because you're not ready for the big show.
I don't trade equities but with futures... If the Trade cleared it stands. If the op sold his bargain buys before the trade cleared than he is S.O.L. If the trade was cleared than the clearing house is responsible for the transactions and guaranteeing full performance. The Clearing House is the legal counter party to both legs of every trade and earns a fee for settling trading accounts, clearing trades, collecting and maintaining margin monies, regulating delivery, and reporting trading data.
I agree, busting trade during crash event is extremely wrong. this is not relate to misprinting or misquoting from exchange. it is 2 different things, big guy love to mixed it up to save their ass.
if you are ever on the other side of a trade that was clearly a mistake you will sing a different tune.
the broker would just cancel the trade. as long as you still had a position and sold... it doesn't matter if you didn't read the bulletin board. i'm sure you broker would just cancel it. and you owe nothing. don't forget this wall street, those shares and positions are not real..it's a virtual exchange virtual reality. okay.
yes. busts are always initiated by the party that got screwed in the trade. it is the traders responsibility to know the bust rules. the way to be safe is if you get a fill that you know is a gift dont sell it until the next day.
I ain't no real smart feller, but I do know bullshit when I smell it! And there's a really bad odor coming out of Wall Street.