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Sounds to me like you've been scammed pure and simple! If you're order had
been released as market order when you're stop was hit, there should have
been no trading below your stop without a fill regardless of size. Have you
looked into the mechanics of how your broker is handling e-mini stop orders?
Is he watching them manually? Do you use electronic order entry or phone?
Does he use a Globex2 terminal and does he enter stop orders? Could he have
switched tickets?
Earl
-----Original Message-----
From: Jim Hamer <hamerjp@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Sunday, December 27, 1998 12:01 AM
Subject: FUTR - CME E-Mini Fills
>R/T'ers:
>
>It is good to be back subscribing to this forum after several months
>without it.
>
>I want to bring to the attention of other traders (and possibly get
>advice as to my options) the situation I had with some E-mini (S&P)
>fills. I had a 4-lot buy stop at 1166.50 The market traded 1166.25,
>(11)66.50, 66.25, 66.50, 66.25, 66.00, 65.75, 66.00, then on up to 67.50
>- I was filled at 67.50
>
>In the pit, I would have gotten no worse than my stop price (normal
>market conditions), yet when I inquired about it to my broker (RJ
>O'Brien) they asked the CME. The CME supposedly responded "that since
>it was such a small amount and the order was filled in less than 3
>minutes, there is no responsibility on the exchange's part."
>
>I wonder if this is true? Does anyone have any input?
>
>I am going to file a complaint with the CFTC and NFA just to see if
>there is any responsibility on the part of the exchange (I am a member
>of the NFA). I realize it will cost probably as much to file the claims
>as the slippage is worth and I may be throwing good money after bad, but
>I really want to know the answer - unless someone else has been down
>that road.
>
>I look forward to any reponses. May you all have a record breaking new
>year.
>
>-Jim Hamer
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