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In a message dated 3/24/99 8:33:28 AM Pacific Standard Time,
bullandbear@xxxxxxxxx writes:
> 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
First of all, ETrade charges $15-20, Datek charges $10. They send the orders
with computers. Why on earth would you think they call someone on the phone?
They do something like 20,000+ transactions every day!
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