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In our electronic system in our exchange, yes you can do that during and after
trading hours. (Meaning change transactions to different accounts after being
executed).
The problem is , since all transactions are electronically reconcialiated.
1. During trading sessions, the exchange as all specific information, like
client account no., time, price of execution, not only broker data, but specific
client account details is
included.
2. After trading session ends, our backroom computer, automatically prints
out all
the day's transactions into individual invoices, w'c includes all clients
activities that day,
also included all trading accounts/broker in house transactions. So all data is
reflected,
this info is also sent to exchange computers. Which will check for discrepancy
between
session transaction and invoice transaction. So, any difference will
automatically be
captured by the exchnage computer, you can be syre that within the week,
auditors
will first question the brokerage and next step is auditors coming in.
Usually fines or worst brokerage suspension from trading.
We don't have to wait for any client complaints. Sign Up! Sign Up! to our
exchnage and brokerages!!!Our systems was brought from US/Chicago sources for
over US10 million dolars 3 years ago.
Now you wonder why "some" broker/borkerages/floor traders disliked electronic
so/too much, well, its here already. The day of reckoning is coming, and lets
see if any
of your legendary "skills" will still make you guys any money. Most of them
"gentlemen"
will retire from the "business" and finally work for a honest living.
Sign Up !!! Sign Up!!!! Our exchange nos. and my borkerages no. is listed below
.................. Maybe you 90% + losers have finally a fighting chance in our
"Third
World" country stock exchange. And why you are wondering where did your
backtesting gone wrong (even with super duper Cray computers)? because somewhere
along the
trading path, some /one/thing/group has been siphoning your blood all along!!!!
Gaius Marius wrote:
> :Massachusetts regulators further allege that the company allowed Mr.
> :Baruchowitz to allocate trades to either his account or the other
> customer's
> :at the end of each day. His personal account was the only profitable one,
> :according to the complaint.
>
> :Mr. Baruchowitz declined to comment. Christopher M. Block, Block Trading's
> :chief executive, said the firm didn't violate any laws. He said the firm's
> :computer system doesn't allow post-hoc allocations to separate accounts...
>
> Wanna bet? Hell, I've done this myself. ;-) You have 15 mintues to do this
> (from 4:00pm until 4:15 pm EST) before the "books" are closed. Note: I've
> never worked at Block but at 2 SOES places where this is a common practice.
> Let's say we have 2 guys trading one stock. One guy is short the stock at 87
> and the other guy is long at 86 with the stock closing at 85. So the short
> will take the trade off the guy at 86, covering his short, keeping his
> profit in the expectation that the long will return the favor sometime in
> the future. Usually this shit happens at least once a week. And the prices
> are usually closer with the profit of around a 1/8 to 1/2 a point. At NYSE
> member firms, this is not allowed at all but at smaller NASD firms this can
> happen.
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