SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Final Frontier - Online Remote Trading
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Dan Duchardt who wrote (7069)4/27/1999 3:36:00 PM
From: wily  Read Replies (1) of 12617
 
>>It's nice to hear that NASD is responsive to complaints they receive, and I don't doubt that they would take appropriate action if they were getting multiple complaints, but I doubt they keep the detailed log that is needed to prove wrongdoing in individual cases. If someone knows otherwise, I'd be happy to hear about it.<<

I believe they DO keep detailed records of all the MM movements, or at least the ones that would be relevant to any trade dispute.

On the day they confirmed my complaint against MASH, I had also complained about PERT on an order in the same stock just prior to the one I placed with MASH. Nasdaq said that PERT pulled his bid simultaneous with receiving my order to sell. (he then filled me for 100 shares on a 3900 share order... ) My hunch is that he was playing the same game as MASH, but was just a little quicker on the trigger. They had both posted sizable bids and then removed them soon after when me hitting them. You really don't see that too much which is why I called. They were obviously trying to move the market up, IMO.

Sometime when you think you've been backed away from, give Nasdaq a call:

1-800-925-8156

This is not really a number for individuals -- it's really for brokers, but they're not that picky -- they will check the market records and get back to you. I talked to a woman named Miani.

Nasdaq rules for backing away require you to have your broker contact the offending firm within 5 minutes of the incident. In this particular case my broker didn't believe me, so I just went ahead and called Nasdaq. Most of the people I've talked to at Nasdaq are very helpful and friendly. OTOH, I had a formal dispute that was treated in what I considered a blatantly biased manner in favor of the broker (even though I won).

wily

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News