Magna, believe me, this was neither a little clerk, nor was it entered in error. If you ask me, it was some head of desk who made at least $5M today in trading S&P futures.
It is starting to get weird, Seems like every few months there's some kind of major fiasco that hoses most of the players.
Notice that only those who were long ES before the drop are saying the trades should be busted? LOL. Anyone who made money thinks the trades should stand.
The point is not who made money or lost money. The point is the inability of these exchanges to operate a "fair and orderly" market. If they are unable or unwilling to do that, they should not be licensed to do that.
right - it was a big order - it was executed - end of the story. edit: i did not trade today - so i'm not biased
It's ridiculous to argue that the CME should bust trades as well. What's next, Eurex busting DAX trades because they broke in sympathy. Keep in mind that the CME has been quite concerned about losing market share to the CBOT's Dow complex. The Merc is gloating right now!
I'll be sure and ask you the same question when this happens again and YOU get screwed. And probably add one of these little faces, like...
bot YM at 8783, sold 9019, chat with IB, 9019 willnot be busted, big win-> lost trade,f*ck!!!! even can't close trade now. hope Moday willnot gap up