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Non-Tech : Interactive Brokers / Timberhill

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To: Mark Davis who wrote (1053)1/21/2001 7:25:43 PM
From: Dan Duchardt   of 9012
 
Mark,

It is my understanding that Nasdaq's "Clearly Erroneous Trades" rules apply only to trades executed on Nasdaq's systems. Nasdaq does not own or operate the ECNs. The only place to get relief or a bad trade executed on an ECN is from the ECN. Most of them have some sort or rule, but they are generally more lax about trades away from the inside market than Nasdaq because many traders willingly use ECNS to trade away from the best market prices.

Dan
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