In the event you experience a bad fill that may be subject to a trade bust or price adjustment based on the exchange's Obvious Error rules, it is important to contact your broker as soon as possible. Typically, requests must be submitted within 30 minutes of the timestamp of the order fill at the broker.
IBKR:
- Sign in to the IBKR website and click Get Help in the top right menu:
- Click Trade Cancellation Request
3. Select the trade date and Option as the Contract Type and click Get Trades
4. Select the contract/trade(s) that you believe should be busted/adjusted. Explain in the reason for request that you believe this trade should be adjusted (provide the OrderID from the TAT notification emails, timestamp of the fill, any other information you have). Be sure to mention you believe this trade qualifies as an "Obvious Error" and you are instructing them to submit your request to the Exchange.
TradeStation:
- A client has an issue with a trade and wants it reviewed, they would call our Trade Desk
- 954-652-7915 is direct line to Trade Desk
- Client provides order ID and explanation to the representative who would help review the order
- If the order needs further review with Trade Operations, the Trade Desk representative would submit the case to the team
- The client would then wait for the review to be completed
- The representative or a manager would reach out to the client with final information and determination
Tradier:
- If a customer has a trade that they need us to look at, please have them immediately call the trade desk. They can call 980-272-3880 and choose the option for Trading. That will get them in touch with someone on our trading team. The trading team will look at the trade and request a review and possible adjustment from the exchange if it appears warranted. If the customer would like to follow up with an email, they can do so, but they should call first since emails can be missed or may not get priority during busy periods.
- Consider sending a following email to service@tradierbrokerage.com after your phone call to further document your outreach and log the time it occurred.
- Explain in the message that you believe this trade should be adjusted. (provide the OrderID from the TAT notification emails, timestamp of the fill, any other information you have). Be sure to mention you believe this trade qualifies as an "Obvious Error" and you are instructing them to submit your request to the Exchange.
Schwab:
- The best way to contact Schwab is via the Support live chat built into ThinkOrSwim, by clicking the Support button in the top right menu.
2. Click the Create support request button.
3. Enter your message and click Send. Explain in the message that you believe this trade should be adjusted (provide the OrderID from the TAT notification emails, timestamp of the fill, any other information you have). Be sure to mention you believe this trade qualifies as an "Obvious Error" and you are instructing them to submit your request to the Exchange.
Getting Notifications about High Slippage
TAT now has an option under Settings > Safety Features where you can enable a notification to be sent to you when a stop fills at a higher than expected slippage %.
Submitting a complaint to CBOE
If your broker is unable or unwilling to address your concern in a fair manner, you can submit a complaint directly to CBOE using the following form. https://www.cboe.com/us/equities/regulation/regulatory_programs/complaints_tips_referrals_form/