"Dear Sirs!

On 11.08.2001 at 4:52 A.M. EST I Sold 200 CNC at 7.0 Limit Instinet
(Log:
CNC;SLD;100;7.00;10:05:52;20011108;INSTINET;S10846;;
CNC;SLD;100;7.00;10:05:52;20011108;INSTINET;S10846;;)
here is the account statment for 11.08.2001:
272464 P CNC CONSECO INC INSTINET -100 7.0000 700.00 -2.00
272465 P CNC CONSECO INC INSTINET -100 7.0000 700.00 0.00

On 11.8.2001 at 9.45 A.M. EST I Bought 200 CNC at 4.0 Limit
(Log: CNC;BOT;200;4.00;14:45:41;20011108;NYSE;S10846;;)

On 11.09.2001 at about 4:50 A.M. EST Sold 100 CNC at 7.10 Limit Instinet
(Log Executions has been corrected by IB and cannot be copied and now shows Sold 0 shares)

The open position was closed at 7:35 A.M.EST Bought 100 CNC at 4.0 Limit
That was the third intraday trade within 5 days and as a result all operations for the accound were blocked.

At about 12:00 (noon) today I had 2 phone calls from IB which informed me that both yesterday's and today's sell trades had been busted.
According to what the trader who called told me (was his name Peter?) the result of those busted trades was that I again had an open position CNC 300, that means the 2 intraday trades no longer exist and the account should be blocked out.
As a result of the busted trade the execution list for 11.09.2001 has been changed and now shows that today I have
BOT 200 CNC at 7.0 Inca and Sold 0 CNC at 7.10 Inca and that I still have 3 intraday trades and my account is still blocked.

I would ask you to give consideration to the above situation and give me some reply.

1. I strongly object to my trades being busted, especially yesterday's trade being busted 30 hours after it took place.
Some trader had been in vain trying to raise the price for 2 days and the bust of my trades seems rather suspicious and I'll have to inform NASD and SEC in case I get no sufficient reply.
Besides that I would like to inform you that before I performed the trade today that was afterwards busted there was/were similar trades performed on Deutsche Borse CNC (There it is called CEO) at 8.40 EU, 540 shares. The fact that CNC CEO has bought 1million shares of CNC plus the fact that in Europe (when it is still night in America) CNC is traded at 8.4 EU (~ 7.5 USD) was considered by me a sufficient sign that the price went up and nothing showed it was erroneous. Besides yesterday there were TWO buy orders standing at 7.0 ( I agree that 1 person could have mistaken but 2 at once?) and the similar situation was today:
After I performed my trade at 7.10 there remained in Inca one more order BUY 100 CNC 7.01, which remained there till 7:40 A.M. EST (fo3 3 hours that is!) Seems to be too many mistakes for two days with one and the same security , especially if you consider the trades on Deutsche Borse.

2. I would ask you to immediately block out my account and solve the problem with busted trades as at present moment I do not have 3 intraday trades within 5 days. I object to accept Bot 200 CNC 7.0 and SOLD 0 CNC 7.10 as parts of intraday trades as I have never placed such orders and if there was a decision to bust the trade that means they shouldn't exist.

I shall highly appreciate it if my account will be immediately blocked out and I get your reply as soon as possible.
Besides I would like to know if Compliance Department e-mail and phone number are such a great secret as I failed to get it from both support, traders and management..

Sincerely,
Elena Tsyrlina
6.03p.m. (EST) 09/11/2001"

Уже сегодня, 10 ноября пришел стейтмент за 9, в котором ситуация выглядит немного иначе:

>309423 CNC CONSECO
>INC INSTINET -100 7.1000 710.00 -1.00
>309523 CNC CONSECO
>INC RDBK 100 4.0000 400.00 -1.00
>336476 CNC CONSECO
>INC INSTINET 200 7.0000 1400.00 0.00
>
>============ ========
> USD
> Total: -1090.00 -2.00
>
>
>STOCK POSITIONS
>--------------------------------------------------------------------------
>
>Symbol Description Shares Closing
>Price Market Value
>---------- -------------------------------- ---------- ---------------
>---------------
>CNC CONSECO
>INC 200.000 3.9800 796.00
>
>===============
> USD
> Total: 796.00

Т.е вчерашняя сделка SLD 100 CNC at 7.1 - BOT 100 CNC at 4.0 выглядит в стейтменте так как и должна была быть без всяких изменений. Означает ли это: "На тебе $300 и заткнись"? или это просто бардак? и изменения в стейтменте не успевают за изменениями в execution Log'e?

С уважением,

Елена