Legal Question in Investment Law in California
Bizarre Futures Exchange Market Order
Hello and thank you for reading.
In January, I placed an order to sell 10 DAX at the market. I have the recording, the sound quality is excellent. But EUREX treated the order as if some quote request was triggered.
No fill! While the exchange maintains there was sufficient liquidity, my order was not even accepted by the system.
Market orders are chosen when price is of secondary importance. Speed of execution is the key! The market dropped soon after leading to a verified potential loss of more than 1500 points times 250 Euros = $ 357.
My broker is in CA. they are not members of the exchange. and despite promises from their VP, I never heard how the order was entered and routed and who the member was who handled the placement.
More important than the loss of about $ 550,000 is the s y s t e m i c flaw by the exchange.
Q: What should be done about this?
2 Answers from Attorneys
Re: Bizarre Futures Exchange Market Order
It sounds like you have a good claim. I would like to speak to with you about it. Please contact my office at your convenience for a no-charge consultation.
Re: Bizarre Futures Exchange Market Order
Dear Sir:
Why did you wait so long to take action? If what you say is true, it sounds like you may have a viable claim. Please call to discuss details.
Mark A. Tepper, Esq.
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