CMC - unable to trade 2.45pm - 3.15pm Tuesday 25th Nov

LouiseN

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Hi
I was not able to trade or cover off any positions during this half hour slot last week as there was a fire alarm at CMC (apparently all my trades are routed through to the desk, even though they're small). Everything was down - no stops, no limit orders, no market orders.
Did anyone here manage to get a trade on with CMC during this time? They've told me they effectively closed everything down without telling any clients first , which I find difficult to believe.
Luckily it didn't cost me anything, but I'd like to know how accurate they're being with me - I would not like to be in that situation with a position that was offside.
Many thanks
 
It is very plauseable what CMC are saying.
It is very scary what they are saying too.
Imagine a large postion went wrong and one needed to get out fast, the consiqueses would be unimaginable.

However the loss of human life must come first.

Im surprised that CMC have not got a procedure in place that adresses this type of senario.


Requst the fire alarm print out for the building where they opperated from.
 
Thanks for the idea of asking for the alarm print - I'm a bit surprised that they cannot even switch people over to automated trading - especially when I'm only talking about a couple of pounds a point.
I'll ask them for a print & for 'their procedures' for when/if this happens again.
Cheers
 
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