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Wick in June Ten Year Note
Posted: Thu Feb 25, 2010 2:16 pm
by trendyguy
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?
Posted: Thu Feb 25, 2010 2:20 pm
by LeapFrog
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.
Posted: Thu Feb 25, 2010 3:30 pm
by TK
It is visible on a 30-minute chart at barchart.com.
Posted: Thu Feb 25, 2010 3:42 pm
by sluggo
Posted: Thu Feb 25, 2010 3:54 pm
by LeviF
Eek, thats ugly!
Posted: Thu Feb 25, 2010 10:24 pm
by Wisdom
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.
Is it an idea to complain
Posted: Mon Mar 01, 2010 3:06 pm
by Mats
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
Hi Mat
Posted: Mon Mar 01, 2010 3:54 pm
by trendyguy
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