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Hi There,
I am not trading in stocks although i do have the series7 I am curious to know How does company like Etrade,datek and other internet trading houses say they can give you confirmation in 60 seconds or less,at a fee of about $8 per trade ........... Does the Etrade broker then contacts his "electronic clearing house"
and places this order for the client? How does this system work?
Is their an online clearing house that charges less than $8 per trade that was they can make a profit.
I can't imagine Etrade those after recieving an order placing a call with their broker and he places the order on the floor.
Thanks in advance
Bryant
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