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To: Yiqun Xie who wrote (16048)	1/4/1999 8:03:00 PM
From: Patrick Slevin	Respond to of 17305

Yes, the broker is regulated by the National Association of Securities Dealers. It does not matter where the issue is traded. Second, make sure to speak with the Compliance Officer (at the firm) and get his/her name. Ask for the Compliance guy, don't just speak to "anyone" or a manager or whatever. The Compliance guy is responsible for regulation at the branch. Let me look up some notes and see if I can find anything else.

To: Yiqun Xie who wrote (16048)	1/4/1999 8:22:00 PM
From: Patrick Slevin	Respond to of 17305

My books are pretty old but the same stuff should apply. If it gets this far, then, You have to complain to the District Business Conduct Committee in the district where this happened. You can probably find an address on a website if you check www.nasd. something or other. I know the NY one is down in the Battery near Wall Street. You have to specify what the complaint is and sign it. They will provide an opportunity for a hearing and make a decision in writing. Penalties, if the Committee decides National Discount Brokers are at fault, include possible -censure -fine -suspension and/or -expulsion. My guess if you complain to the Compliance Dude he will understand (if NDB is wrong) that the costs outweigh the benefits and probably try to either bust the trade or make some offer to make you whole again. If not, mention in the complaint the name of the Compliance guy and anyone else involved in the entire thing. You might attach a trade record of that day if possible to the complaint to show that the trade was executed above the market; and if possible a copy of the order canning the trade.

To: Yiqun Xie who wrote (16048)	1/4/1999 9:55:00 PM
From: Patrick Slevin	Respond to of 17305

Another SI member just told me that NDB gives you a confirmation number on that Kill order you put in. See if you can find it; meanwhile, the best thing you can do is have them tell you the time and sales on that order. If it never traded at that price on the day the trade went off then you have an excellent case for busting the trade or at least bringing down the execution price.

To: Yiqun Xie who wrote (16048)	1/8/1999 8:53:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 17305

Interestingly ... to me anyway....you never told us of the outcome by the by. but anyway.... a link from an exchange between a CBOE MM an another person who got hummed. ~~~~~~~~~~~~~~~~~~~~~~ Yes you have a good basis for an arbitration complaint. You'll hear a lot of comments about whether or not it is worth it....none the less....file your claim. xxxxxxxxx.com wrote: > xxxxxxxxxxx, > > I have been putting up with LFGs elect order and Cubs being down for sometime. > Let me also tell you what happended in the last 2 days. I bought one S&P at > 127970, the price ran up and I put a stop at 128030, the price came down and > hit the stop level, considering the lag time on price entry on the down Cubs, > I figued the stop wasnt in , So the price runs up and I do a cancell and > replace at market . > Leo finally shows my buy and a sale at 128250. So I figure I am out for the > day. At about 7:00 PM central I look at my email and LFG shows the buy at > 127970, the sell at 128250, and also a sell at 128030. So I call the globex > no., tell them my situation, > and buy one at 128010, so that I think I am flat. The next morning , on > Globex I buy an S&P at 127500, the market starts going aganst me and after the > phone at Globex,LFG, ringing for 5 minutes , I get out of the trade at 126710, > a big losses for me. I then get a call from LFG that the 128250 wasnt my > trade so I am long from > 128010 with the market at about 126800, so I dumped the trade at 127050, this > was a $4,400 loss which pertty well wiped me out. Do you or any real traders > thing I have a basis for abrttration? > > Thanks, > Dennis ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ A lot of people think they are doomed because they believe what the people from the firm they made the trade from will tell them. It never ceases to amaze me that people will believe their broker, who usually knows less than anyone else.