Clearly Erroneous Trade Policy
If a User of the LeveL ATS believes that an executed trade was materially inconsistent with the trading market at the time of the trade in that security, it may request a review of such trade(s) by Luminex, the broker-dealer operator of the LeveL ATS, under the Luminex Trading & Analytics Clearly Erroneous Trade Policy.
Upon receipt of a valid request for review, Luminex will review the disputed transaction, applying the guidelines set forth herein and other considerations it deems appropriate. Luminex reserves the right to request written documentation relating to the disputed transaction, which is reasonably necessary for use by Luminex in resolving the matter. If the transaction is determined to be clearly erroneous, Luminex will, in its sole discretion, cancel or modify the executed trade.
For more information, please download the following document: Clearly Erroneous Trade Policy