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<DIV><FONT color=#000000 size=2>I am catching up on back issues of RT in inverse
order and came across some virus warnings.</FONT></DIV>
<DIV><FONT color=#000000 size=2>Before I open back issues can someone point out
which bandwidth of issues were infected? Also a site where I can download an
antidote? Also need </FONT><FONT color=#000000 size=2>a site for general virus
protection. </FONT></DIV>
<DIV><FONT color=#000000 size=2>george</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Sat Feb 19 13:56:45 2000
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Reply-To: <gledhill@xxxxx>
From: "Judith Gledhill / Mark Oliver" <gledhill@xxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Subject: [RT] FW: Re: lame broker alert/DIFFERANT VWIEW
Date: Sat, 19 Feb 2000 22:34:28 +0100
Message-ID: <LPBBIOJJABGBIIFMAMNMIEENCCAA.gledhill@xxxxx>
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-----Original Message-----
From: Judith Gledhill / Mark Oliver [mailto:gledhill@xxxxx]
Sent: Saturday, February 19, 2000 1:14 PM
To: droex@xxxxxxxxxxxx
Subject: RE: [RT] Re: lame broker alert/DIFFERANT VWIEW
Hi this is not against the original complainent per se but more of a generic
vwiew- as a trader from the hard school of knocks ive been trading 11 years
for banks in foreign exchange/prop/futures i find it unreal that the new
daytrader clique cry foul whenever there daypipping antics are upset. As a
subsequent mail quite rightly points out if the guy had benefited he would
never have complained.
As a trader you have to take a risk you cant really think you have a right
to place an order 1-3 min before a big economic no is about to come out on
an internet order sytem the technology is just not there, if you want that
right pay a bit more and take a phone broker but as is sad to say most
daytraders abhor paying alittle more for quality.Please understand i dont
endorse the crap guys use to get away with in order execution,crap brokers
etc iam glad that the market gets quicker and more proffesional but i truely
laugh when i hear the new traders whinge about the school of knocks you got
to take ,its part of the education process .So some of you apologists out
there with this sort of complaint please stop endorsing it SOMETIMES YOU GOT
TO LOSE AND NOT ONLY WIN MY FRIENDS
regards
mark
www.paratechnics.pair.com
-----Original Message-----
From: listmanager@xxxxxxxxxxxxxxx [mailto:listmanager@xxxxxxxxxxxxxxx]On
Behalf Of THE DOCTOR
Sent: Saturday, February 19, 2000 4:47 AM
To: realtraders@xxxxxxxxxxxxxxx
Cc: service@xxxxxxxxxxxxxxxxxx; realtraders@xxxxxxxxxxxxxxx;
omega-list@xxxxxxxxxx
Subject: [RT] Re: lame broker alert
Phil,
You should send your complaint in writing to one of the SROs Self
Regulatory
Organizations.....believe it or not the SEC does regulate the issue you
describe. You broker, whoever they are, should get a written copy of you
complaint with a copy to either the NASD, NYSE, CBOE, or AMEX. They
regulate
the brokerage industry....your best bet is probably .... for this issue....
the
NASD. If the trade occurred on an ECN then it most certainly the NASD. The
SEC
will merely forward you complaint back to NASD and you'll be adding weeks if
not
months to the process.
Phil Lane wrote:
> To whom it may concern:
> This trade should never have happened. I had a market order entered to buy
> 200 shares of ICCSA. On February 14th at 6:25 AM (a good 5 minutes before
> the market opened) I attempted to cancel this order.
>
> Unfortunately, to my complete suprise and dismay, your web site REFUSED to
> accept the cancel order. The edit button had just disappeared. So at 6:26
AM
> I called to cancel the order in person. But at 6:33 I was still on hold
and
> the traded was transacted against my wishes.
>
> Later that day your Manager of Internet Trading looked into this and told
me
> that from 6:25 on the internet order entry system was intentionally
designed
> NOT to accept cancels on market orders! And apparently that's supposed to
> make it OK.
>
> HOWEVER, it is clear that if I had spoken with a live broker at 6:25 AM he
> would have made every effort to cancel the order!!! I think your failure
to
> provide the same mechanism over the internet is a very serious MISTAKE,
> since it is clearly at ODDS with the standard stock broking practices, and
> especially since there was absolutely NO indication that this arbitrary
and
> capricious policy existed. THEREFORE I'M GOING TO HAVE TO INSIST THAT THIS
> TRADE BE BROKEN and also that you repair the web site to avoid this
problem
> in the future.
>
> Please note that over the past few days I have requested to speak to
someone
> about this several times. On 3 distinct occasions I was promised that a
> "manager" would call back. Believe it or not I'm still waiting for the
phone
> to ring. Evidently there is NO established procedure to dispute a trade,
or
> else I can't get anyone to tell me about it. Perhaps this email will
> motivate someone to actually do something.
>
> Thanks for your attention,
> Philip Lane
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