Where can you check to see if an ARCA trade gets busted?

Discussion in 'Trading' started by Dominic, Dec 19, 2008.

  1. Dominic


    I traded JWN this morning and was later in the day the NYSE came out and said that they are busting certain trades in a 2 minutes period; I purchased/sold the shares through ARCA and curious if there is a way to see if ARCA or NSDQ will or are going to let the trades stand or do they have to bust them also?

    Where could I do to see if ARCA is considering busting a trade?

  2. ajr34


    i got fucked on that one too... nyse canceled, arca disagreed and their trades stood. only arca trades broken were ones routed to nyse. I was short from $11.70 because of this bs... looks like hedgies can still grease palms...:confused:
  3. Dominic


    So your saying that ARCA trades stand if they where placed directly through ARCA?

    What broker do you use? Where did you hear about the ARCA trades standing; I use Charles Schwab and they dont know what is going to happen.

    I have direct access to the ecn's and placed my order through ARCA; still dont know if they stand or not; if they do get busted in the parameters that NYSE stated, then I'm illegally short at 11.67.

  4. ajr34


    i trade through kershner trading group, prop firm in Austin. we trade through goldman. we did not get any of our arca trades broken unless they were routed from arca to nyse... not sure your prices or anything, but if all your trades were through arca, you should be good... the specialist trades were broken below $11.86 from 941am et to 944am. i was filled on the specialist @ around 11.80 @ 943am... actually was doing some other crap and didn't get out in time (scalper) and ended up taking a lose on a couple thousand, avg. price 11.70. so I thought if the specialist broke, arca would to and it would be cool but no love. specialist says f@#$ u, pay me... :mad:
  5. ajr34


    shit, sorry it took so long to get back, just saw what time you posted. I had left the office and goofing off at home... hope everything worked out for you... believe me I WANTED the arcas broken. if you find out different and yours were broken, you let ME know... more than a few pissed off guys and broken keyboards, lol...
  6. Dominic


    I'll let you know what happens; I read the news late this afternoon that NYSE was busting trades with the above mentioned time and sales; I wasnt sure if ARCA or any other ecn was going to follow or have to follow what the NYSE ruling was.

    Around what time did you find out that your trades where busted?

    I purchased all my shares through ARCA during the 9:41 thru 9:44 time frame below the $11.86 range and then sold via arca also at 9:45.

    So it looks like trades through a specialist are busted and ecn trades stand.

    Will let you know what I find out.

    Enjoy your weekend!
  7. ajr34


    that's also what added to the frustration- we didn't find out till the last hour!
  8. Dominic


    Same here; the news didnt come out until around 3:00 pm; so how do you know that the arca trades stand? I read the news where NYSE was busting the trades, yet really havent read or heard if arca or other ecns are going to bust or not.
  9. ajr34


    because our pit crew found out for us- once they were informed of the nyse decision to break, it was gonna cost our firm quite a bit. they immediately called arca to see if they were going to break the trades. they said nyse was wrong, and there is no way for them to go back and break all those trades. we are not a retail shop, so information flows a lot quicker... I used to work at both td ameritrade and fidelity, they prob. gave you some answer like we don't know yet or some crap, but it's pretty much set. we already closed out our positions and took the losses. we were affected by AEO also. just the JWN trade cost us about $500k.
  10. Dominic


    A $500K loss!!!! I'm sorry!! I had no idea that it cost you guys that much!

    I guess that I shouldnt have been complaining...
    #10     Dec 20, 2008