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Message text written by INTERNET:omega-list@xxxxxxxxxx
>There is a lot of difference between LEO and the other systems. LEO is
the
only system that has a direct readout of the trades in the pit. All the
rest of the systems go to the floor and are then signaled to the pit.
Right now, the LEO readout is on the side of the pit that handles small
orders (<20). They have plans to put a 2nd station on the side of the pit
for large orders.
I was just there on Thurs and saw the operation and was most impressed.
Now, if I can just get a decent commission rate I would switch to them.
Regards,
Paul Weston<
Over the Xmas period, I tried Leo to satisfy my curiousity about all the
hype over Zap.
I found it very convenient to enter orders, especially being able to 'park'
orders in anticipation. Cancel & replace orders are a snap. However, I
found
the fills to be no better or worse than my regular telephone broker.
As you say, their commissions are way out of line. Their argument is you
make
it up in the speed of execution. I did not find that. Doing the same trades
with both brokers Leo was more convenient maybe, but no better and, with
the added commission costs, became the least profitable. I tried
negotiating a
better rate with the promise of multiple accounts and a daytrader's
turnover
but they didn't seem that interested to lower it by much.
Ian.
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