I bought some shares of an ETF Friday morning around 9:40 am via ARCA; someone hit my buy order, yet it was extremely out of the market; curious if anyone knows if there is a set time frame for a trade to be busted? If I sell/exit position now and then they come back to me and tell me that orignal trade was busted, then I would be illegally short and might have a loss on the trade. Is everything ok after the trade day plus 3 day settlement period? Thanks
The exchange will do whatever they want whenever they want. http://www.nyse.com/pdfs/Clearly_Erroneous_Trades_091908.pdf