A mistrade happens when a stock order executes incorrectly due to a technical error. This could include:
- An order executing at a significantly wrong price (for example, a stock was bought at €50 but executed at €500).
- A system error causing the order to go through with incorrect details.
- A technical issue on the exchange preventing the order from executing as intended.
Mistrades typically result from technical problems on the exchange’s side, not from mistakes made when placing the order.
What happens in the event of a mistrade?
Whether a transaction is a mistrade, and whether it is cancelled or adjusted, is decided solely by the exchange where the trade took place and, where applicable, its supervisory authority. Mintos does not influence these decisions.
A mistrade can only be reviewed, cancelled or adjusted before the transaction settles, and only where the exchange’s rules, applicable law, and the relevant terms and conditions allow it. Once a transaction has settled, or the trade confirmation has been delivered, it can no longer be cancelled or amended.
The timing and possibility of identifying a mistrade depend entirely on the rules and procedures of the relevant exchange and are outside Mintos’ control.