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EarnestDD

06/29/11 8:25 PM

#36292 RE: dizdoti #36291

Fat finger corrections are done all the time.
Three days to clear and in the meantime, errors can be adjusted.
jmo
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wickw50

06/30/11 8:02 AM

#36301 RE: dizdoti #36291

dizdoti, fyi, All markets have cancellation policies...:
Cancellation criteria
In determining whether a specific situation initiates a forced cancellation, the
Surveillance will consider the following criteria:
1. The trade(s) shall be a consequence of an indisputable error e.g.
• Wrong security, Switch of price / volume, extra digits
2. And the trade(s) shall cause substantial change in the price picture
• The trade shall be executed at a price which deviates substantially from
the prevailing market price3 of the instrument before the erroneous
order was entered. The change in the price picture shall be sudden and
of an extraordinary nature where the one side of the spread is moved
substantially or is cleared altogether
.
3. The trade shall be perceived as unreasonable, considering the current market
conditions and the trading activities for related instruments.
4. The prevailing market conditions, market activity, volatility and the traded value
of the instrument are taken into consideration.
Members are expected to be aware of publicly available information. Failure of a
Member to acknowledge publicly available information will not be regarded as an
indisputable error, unless extreme conditions apply.