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I moved my account from JC several months ago because their electronic
trading system was a joke and I didn't care for the discount desk. When I
left, the ETC system, which they are now advertising heavily on CNBC, did
nothing more than route the orders over the net to a broker desk which
pulled off the orders, phoned them to the floor, and typed in the fills. The
delays were such that it was much faster to call the discount desk.
Earl
-----Original Message-----
From: Lamont Cranston <mulligan@xxxxxxxx>
To: Timorthy Morge <tmorge@xxxxxxxxxxxxxxx>
Cc: Omega-list@xxxxxxxxxx <Omega-list@xxxxxxxxxx>
Date: Thursday, October 08, 1998 1:40 PM
Subject: Re:Electronic Trading vs Floor Trading
>Tim:
>
>You were right. Since I am already a client of EDF Mann it was very
>easy to set up an account at Jack Carl and trade over the internet.
>
>Needless to say the fills were not as fast. I have traded the S&P for
>the past two days on the internet and it was not that rewarding. I
>found that they still have to go to the back office to check your
>account and then broadcast the order to the floor and then back to you.
>So it is not as efficient as going directly to the floor.
>
>Lamont
>
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