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Subject:
Order Fill Problems Reported on CNBC
Date:
Wed, 09 Dec 1998 12:14:08 -0700
From:
Ramin Zahraie <ramz1@xxxxxxxxxxx>
To:
omega-list@xxxxxxxxxx
Bob Pisani of CNBC just described a problem that an investor had in
filling her orders with an online broker. Appearantly she put an order
for Earthweb (I believe?) at 54. She didn't get a confirmation and
called the broker. She found out she was filled at 63! After bitterly
complaining several times, her fill was finally adjusted at 57. The
online broker blamed the problem on the market maker. Mr. Pisani
reported that this is becoming a common problem on NASDAQ.
As many on this list recall, several members had a similar problem.
Hopefully now that the problem has been publicized, measures can be
taken to rectify the situaion.
Rgrds
RZ
good morning list
the above sounds like my experience last week with jb oxford... called
the broker who said the market was 13 3/8, i ordered 1,000 at market...
he reported fill at 13 7/8... next day broker reported the NYSE trader
had made a mistake & i was actually filled at 15 in a 50,000 share
trade...broker told me he was sorry!
lookss like the extra $5 fee for limit orders thru oxford may be worth
it!
preston
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