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Non-Tech : Fight The Power! -Your Broker Just Screwed U - Now What?
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To: Shoot1st who wrote (225)1/13/1999 12:43:00 AM
From: ajunkh  Read Replies (2) of 323
 
Looking for advice: at 10:05:22 on 11/30 I entered a market sell order for 1000 ONSL with Ameritrade. According to the confirmation screen the last trade was at $92 when I entered the order. Ameritrade routed the order to NITE (Knight Securities) and received confirmation of an execution at $50 at 10:26am. I complained and three weeks later Ameritrade said NITE had improved the execution to $58 7/8. Ameritrade sent me a list of the bids and asks (but they omitted a price and sales list) showing that at the time my order was entered ONSL was 87 5/8 by 87 15/16, and that the first trade for my corrected fill price of $58 7/8 occurred at 10:15:59, over 10 minutes after I entered my order. Do I have grounds to request arbitration or to contact the SEC? If so, what is the best strategy for doing so? Many thanks in advance.
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