Unwanted Accnt Risk/Loss from Trouble ticket fix

(Below is a followup to 7:25 a.m. post: " Partial fill and trouble tickets.")


A correction to a System trade record, caused a replacement order to Autotrade into an IB account, resulting in a duplicate trade execution and a loss. Should this happen?

Sequence of events:

* An initial C2 order was autotraded to IB where it got a partial fill.

* The C2 Order blotter did not reflect any fill. Eventually I cancelled it.

* Trouble ticket was then submitted requesting to correct record of fill (with evidence of actual fill in IB emailed to C2 as there was no field for this in the trouble ticket).

* C2 Cust service then created a replacement order to C2 blotter.

* Instead of simply setting the C2 blotter record to sync with actual system fills - this action induced an autotrade of an order into an IB account - where that order had already been filled.

* As the system vendor (correctly) assumed the system was flat - he left the account unattended - and this duplicate execution went unnoticed for a period of time, until on discovery it ultimately caused an account loss to close (-$480 Cdn !).

* I note that in a subscriber autotrade scenario - that loss might still be uncovered in that subscriber’s account.

Need some guidance /remedy here please. See orignal post for details.

Michael Holder.

correction to above re loss - should be -$240 Cdn. not -$480 as posted. apologies. (123.43 - 1.2319 X $100,000/100). MH