Wick in June Ten Year Note

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trendyguy
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Wick in June Ten Year Note

Post by trendyguy » Thu Feb 25, 2010 2:16 pm

I received a nasty fill this morning some 2 handles above the market. It seems the June contract was the only one affected. A fat finger error they claim, so far the exchange is not busting it. Did anyone else get stung?

LeapFrog
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Post by LeapFrog » Thu Feb 25, 2010 2:20 pm

That's awful - I hope they bust that for you - they sure should. Push your broker to complain several times to the exchange. I'm still in H, rolling tomorrow.

TK
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Post by TK » Thu Feb 25, 2010 3:30 pm

It is visible on a 30-minute chart at barchart.com.
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sluggo
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Post by sluggo » Thu Feb 25, 2010 3:42 pm

Or the 5 minute chart at futuresource http://futuresource.quote.com/charts/ch ... &b=bar&st=
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LeviF
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Post by LeviF » Thu Feb 25, 2010 3:54 pm

Eek, thats ugly!

Wisdom
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Post by Wisdom » Thu Feb 25, 2010 10:24 pm

From MNS: The CME's Globex Control center says all trades will stand on what was clearly an error trade in June 10-yrs as the contract traded up to the 119-06.5 level at 8:30 am ET. According to time and sales, some 9,174 June 10-yrs at that price in just 1-minute, and compares to current levels of 117-07.5. Those on the sell side are giddy. Meanwhile, some 6,100 June 5-yrs traded up at 116-02.25 at that same time, which compares to current levels of 115-23.75. Those trades stand as well, according to the CME.

You can file a complaint/claim with the exchange. PM if you want the Globex Claim Form.

Mats
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Is it an idea to complain

Post by Mats » Mon Mar 01, 2010 3:06 pm

I was caught as well, Interactive brokers only said that this spike was not an error from their systems?

What could i do?

Thanks/Mats

trendyguy
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Hi Mat

Post by trendyguy » Mon Mar 01, 2010 3:54 pm

You can file a claim with the cme as I did. This may or may not get you anywhere! I did it more on principal than anything. If no one ever complains, it is unlikely anything will change. I am really unsure as to what critieria, the exchange uses to decide whether or not to bust the trades,but I do not feel in cases like this, the trades should have been busted. This is what I expect from a bucket shop, not a regulated exchange. "Fair and transparent price discovery ", I think not.

You have only ten days to file, so if you are planning on doing it, you should do it soon.

Good Luck

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