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Try Brown & Company....response is always fast.....execution is top-notch.
Web site is highly reliable.
There are limits however:
no stop orders for stock/index options (I know, this is bad !)
no e-mail confirmations (they still do it by regular mail !)
> -----Original Message-----
> From: Sigstroker@xxxxxxx [mailto:Sigstroker@xxxxxxx]
> Sent: Sunday, November 15, 1998 5:17 PM
> To: omega-list@xxxxxxxxxx
> Subject: Re: Online stock trade execution
>
>
> Well, what you refer to as poor execution, others might call a
> lousy broker,
> period. Datek's servers have been down in a similar fashion a lot
> recently.
> Cyber (www.cybertrader.com?) has an interesting feature - a
> 1-button get-me-
> out-of-everything. Don't have Cyber, so I don't know what kinds
> of orders it
> does. By "lightweight", I mean no Level II data, just order entry. Two or
> three mouse clicks to enter an order. For the volume you do,
> though, most of
> the high-end brokers will waive the trading system fees and
> charge commissions
> only, plus maybe exchange fees for data, $50 a month if you want
> Level II. For
> that small amount, you might try it for a month to see if you
> like it. I would
> caution you NOT to become so entranced with it, you forget to use
> your current
> methods. It can easily happen.
>
> BTW, any Internet connection to a broker is prone to these
> problems. You might
> check in your area to see if you can get a direct dialup connection. Cyber
> even offers frame-relay direct connections, very expensive, but
> could be worth
> it for high volume traders.
>
> In a message dated 11/15/98 5:24:33 PM, jaustin@xxxxxxxxxx writes:
>
> > Thanks for your reply. I use the BMI feed and average 100 - 150 round
> > turns/month on the higher volume NASDAQ stocks. If I understand you
> > correctly, you are saying that Level II data would allow me an
> additional
> > 1/8th of a point per trade. I would consider that a big deal
> indeed if it's
> > true. Any thoughts on this?
> >
> > Let me give you an example of what I mean by unacceptable
> execution. On
> > Fri., Nov. 13, I was long INTC and MSFT and was nicely up in
> both trades
> > when I decided to exit at 11:30. First I needed to move to
> the order entry
> > page and that took several seconds as the server response was
> sluggish. I
> > entered the INTC sell order, hit the send button and got the message
> "server
> > unavailable", try another. That required another login and a
> re-entry of
> > the sell order. In short, it took 3 1/2 minutes to get out of
> that trade
> > and then I had to repeat the process for MSFT. It took about the same
> amount
> > of time and combined, these delays cost me over 1/2 point and
> compared with
> > previous similar occurrences, that's not bad. The previous
> week, I lost
> 7/8
> > of a point on INTC alone in the same fashion. It is happening to me at
> > least once a week.
> >
> > Correcting this problem alone will pay the difference between
> $10 and $20
> in
> > base commissions, but what about the fees? You mentioned "lightweight"
> > execution systems and I've checked them out, but who would you consider
> > "heavyweight" execution systems? I would really appreciate
> opinions as to
> > what firm is really the best at this.
> >
>
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