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If the communications between Timber Hill and PMBe are lost as it was in
this case,
trading desk is of no help.
If the system broke down while you were transmitting your order, nobody will
know
what the status of your orders is until the system is back on. Only TH man
knows
what it is, but there is no way to communicate with him.
PMB should have a 100% back up system to avoid such situation in which
traders
are left at the mercy of the market without any control over their trades.
PMBe used to be quite reliable, but has changed dramatically recently.
I was told that changes have been made in their software and hardware which
may
have been the cause. PMBe should acknowledge the problem, explain what may
be
causing it and what is being done to rectify it.
-----Original Message-----
From: John O. Romero <romeroj@xxxxxxx>
To: DLCRL@xxxxxxx <DLCRL@xxxxxxx>
Cc: TSCode-List@xxxxxxxxxxxxx <TSCode-List@xxxxxxxxxxxxx>;
omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>;
owner-realtraders@xxxxxxxxxxxx <owner-realtraders@xxxxxxxxxxxx>
Date: Friday, July 09, 1999 2:59 PM
Subject: Re: CL_PMBe problems
>Dale,
>
>I have been using PBMe for over 1 yr. and have had the system go down on me
only
>once during a trade. I made a phone call to the trading desk and they
completed
>my transaction. These are the number I was given by my broker.
>
>Backup phone #'s
>
>Trading Desk --> 800-896-1557 or 312-407-6033
>
>You also should have the phone # of your broker who could also do something
for
>you.
>
>John
>
>
>DLCRL@xxxxxxx wrote:
>
>> First let me apologize for the cross posting I know it is bad manners as
many
>> of us are on all the lists but i felt it was important to get this
message
>> out to as broad a population of potential PMBe customers as possible . I
have
>> been a PMBe customer for about 4 or 5 weeks and twice have been faced
with
>> heart failure due to electronic trading problems and a lack of reliable
back
>
>big snip
>
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