Glossary · Trading and execution
A trade error is a transaction executed incorrectly — wrong security, wrong quantity, wrong account, or a trade that should not have been made.
Errors are inevitable at volume. What distinguishes firms is whether there is a written policy determining who bears the loss, whether clients are made whole promptly, and whether the pattern of errors is reviewed rather than just the individual events.
Questions this did not answer? Ask them directly — that is what the twenty minutes is for.