this is the rules prohibiting broker cancel execuated customer orders
1. new rule itself
2. broker claim "need to adjust/cancel order" after execution
3. investigation show massive order edit in practice
4. decision in favor of trader
======================================================
1. new rule itself
(a) Price Adjustments
(1) A Forex Dealer Member may not cancel an executed customer order
or adjust a customer account in a manner that would have the direct or
indirect effect of changing the price of an executed order except when:
(i) the cancellation or adjustment is favorable to the customer and is
done as part of a settlement of a customer complaint; or
(ii) if a Forex Dealer Member's platform exclusively uses straightthrough
processing such that the Forex Dealer Member
automatically (without human intervention and without exception)
enters into the identical but opposite transaction with another
counterparty (creating an offsetting position in its own name) and
that counterparty cancels or adjusts the price at which the position
was executed.
(4) Cancellations and adjustments to executed customer orders must be
reviewed and approved by a listed principal that is also an NFA Associate.
Such review and approval must be documented by a written record, must
include any supporting documentation, and must be provided to NFA in
the manner requested by NFA
1. new rule itself
2. broker claim "need to adjust/cancel order" after execution
3. investigation show massive order edit in practice
4. decision in favor of trader
======================================================
1. new rule itself
(a) Price Adjustments
(1) A Forex Dealer Member may not cancel an executed customer order
or adjust a customer account in a manner that would have the direct or
indirect effect of changing the price of an executed order except when:
(i) the cancellation or adjustment is favorable to the customer and is
done as part of a settlement of a customer complaint; or
(ii) if a Forex Dealer Member's platform exclusively uses straightthrough
processing such that the Forex Dealer Member
automatically (without human intervention and without exception)
enters into the identical but opposite transaction with another
counterparty (creating an offsetting position in its own name) and
that counterparty cancels or adjusts the price at which the position
was executed.
(4) Cancellations and adjustments to executed customer orders must be
reviewed and approved by a listed principal that is also an NFA Associate.
Such review and approval must be documented by a written record, must
include any supporting documentation, and must be provided to NFA in
the manner requested by NFA