I had several future contracts show up in my account that I never traded. I noticed them when they were marked to market. Not all of the contracts in question could be linked to corresponding buy or sell orders, and the ones that could appeared on different dates. It was Penson. Since I had never traded these contracts at all, how did they get into my account? I brought this to my brokers attention and the contracts were removed from my account, but I never got any explanation for how they got into my account in the first place. I have never trusted Penson since, I suspect there may be some fraudulent activity involved..
My experience is that these reconciliation/confirmation errors for foreign trades is a major problem. I did a search in the ET history, and I couldn't find too many references. Are people living with reconciliation problems or are these problems rare? Is there a business opportunity in getting traders access to truly global prime brokers?