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Thanks Earl, Ira, Terry, and John for your replies. I will continue my
inquiry into this matter along the avenues you have suggested.
I appreciate your feedback and I will let you know how the matter
unfolds.
-Jim Hamer
Earl Adamy wrote:
>
> 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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