Late Order Fill report

Discussion in 'Order Execution' started by GrHarvest, May 8, 2007.

  1. GrHarvest


    I placed an order to buy 1 HGM07 380 Call @9.00 to cover my short call option on copper future last Friday at 10.30 CST. 25 minutes later I sent a cancellation to this order as I thought price keep moving away from me and I decided to fight it out.

    There was no confirmation of trade for the day. I trade through Xpresstrade and their execution is by ADM Investor Services. For the past all my trade confirmations come very fast, within hours, especially if you try to cancel an order and if the trade is done. I think also the option trade on copper future is thin and there is ample time for a trade confirmation. They email me my account statement showing no trade was done for the day.

    An unpleasant surprise came on this Monday morning by email saying my trade was done. I viewed that this trade was not totally transparent unless there was a time stamp on my order ticket to show to me under this circumstance. What is the best way to handle case like this or anyone has similar experience? What is the cost involved if I ask for an investigation? Thanks for your help or any suggestion.
    :( :( :(