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This was sent to TradeStation Data Integrity --
I have opened an equities trading account at TradeStation
Securities. Although it is currently just a modest account, my
intention was to add substantial funds to this account after checking
its behavior. However, I have recently encountered a problem that
would prevent me from using this account at all.
At the open on 9/6/07 TradeStation data had PTMK show some
spurious low ticks, around $12.01, but they were incorrect ticks --
both eSignal and Fidelity both showed a low for that day of
$12.59. On checking the tick chart, one sees that it wasn't just a
single tick, but several ticks. Further, TradeStation data on the
open on 9/7/07 and on the open at 9/10/07 also show spurious ticks.
These do not appear to be isolated problems. If you look
daily chart of PTMK, you will see problem data on 9/17/07. 8/20/07,
8/22/07, 9/6/07, and 9/7/07, and possibly elsewhere not obvious
except on a tick chart.
I can't seem to get a response from TradeStation. Can
someone tell me if TradeStation Securities has any safeguards against
trades based upon clearly incorrect data?
In particular, if I had held a long position in PTMK on
9/6/08, and I had placed a sell stop at around $12.47, would
TradeStation Securities brokerage have stopped me out (at around the
$12.01 level) because of TradeStation's incorrect data?
Bob Pisani
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