Hi Dave,

The problem here is with your broker, not the floor. you have no relationship with the floor. It is YOUR broker's resposibility to monitor and deal withthe floor. That is a negotiation between the 2 of them and does not, or should not concern you.

When the error was discovered and you reported same to your broker he should have immediately removed that trade from your account and placed it in his firm's or his error account. You should have been out of it the smae day you notified him of the error or he found it. THEN he settles with thr floor. Your account should not have been exposed to one tick of price flucuation on this trade. If he then wants to play Russian roulette withe trade in his error account that's up to him. What if this trade had major league tanked. You account is robbed of capital to enter other trade while the outcome is decided.

By not immediately moving the trade to his error account he exposed you in the worst possible way. This is against the rules and is a very serious breach of his fiduciary resposibilty to you. I would write him a letter and tell him if this ever happens again you expect errors to be moved before close of business on the day of discovery and if this happens again you are gone and you will contact his firms Compliance Officer. Period. If you want me to call him, I'll be happy to do it. This kind of stuff really gets my jockey's in a knot.