Time limit for someone to claim erroneous trade.

Me too ...

 

"If it were me, I'd trade against the position to establish a profit. "


Are you referring to my case?? How do you trade against a position when you don't know if it will stick? Sounds exciting.

 

Right away.

We are arb traders, that is what we do ...

 

OK, guess I stand corrected. Not the first time I have been wrong.

Thanks for clearing it up!

RS7

 

Archipelago Erroneous Transactions Policy

 

this situation does not apply to me, but i'm still interested in it. what is meant by the above quote?

say i wanted to go long DELL and it's trading around 15, but i was able to buy it at 5. nobody is complaining to me yet. now what?

 

Shouldn't bother with the rules; they never apply ...

 

Cover ...

 

so, although your intent was to go long, you would establish a short position from 15 and then cover? why not just sell the shares at 15?

 

sell the long stock position you bought at 5.