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Friday, November 20, 2009 3:02:07 PM
How can the below after-market trade reversal by NASDAQ 10/28/09 be considered fair and reasonable?
From E*trade,
Your trade inquiry for order #5307 sell 60,000 ALTU at $0.26 has been reviewed and completed.
There were a number of trades that were reversed by NASDAQ which included your order. From nasdaqtrader.com:
'Pursuant to Rule 11890(b) NASDAQ, on its own motion, has determined to cancel all trades in security Altus Pharmaceuticals Inc (ALTU) at or above $0.2497 that were executed between 15:12:00 and 15:14:00 ET. This decision cannot be appealed. MarketWatch has coordinated this decision with other UTP exchanges. NASDAQ will be canceling trades on the participant's behalf.'”
E*TRADE Account Alert
Wed Oct 28 16:06:32 2009 - Sell 60000 ALTU Execution Reversed
Dear Valued Investor,
Account: xxxx- The reported execution of your Sell order for 60000 ALTU at $0.26 on 10/28/09 was incorrect. Your order execution has been reversed. See order # 5307 for details.
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