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> Other than complaining, you didn't mention whether there was an uptick between 98.00 and 96.40. Did you examine the time and sales? If there was an uptick, you are entitled to no worse than the price before the first uptick. If so and your broker refuses to credit you, raise some hell, ie formal complaints, etc. If there was no uptick, you've got no recourse. You just got caught in an illiquid move.
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> Scott
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Hey Scott, the uptick thing is a local custom in Chicago and KC markets.
It sort of evolved as a way to force the floor brokers to do their job.
If they want the business, they honor the rule.
I've fought that battle in NY. The the NYCE rule simply says they will
use "due dilligence" in filling the order. The next sentence in the rule
says that "due dilligence" can not be defined, which means you can't
hold them to anything.
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