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and most regional specialists will execute for no floor brokerage just to
see the flow of orders
----- Original Message -----
From: Ron Augustine <RonAug@xxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Wednesday, March 24, 1999 9:47 AM
Subject: Re: question for stock gurus
> There's no "Broker" or phone call involved-- E-Trade clears electronically
> through their own clearing department. A Market order generally clears in
> one or two seconds at most. Whether or not they can confirm immediately
> depends on several factors-- like the amount of traffic on their Site or
the
> current speed of the Internet in general. In Equities and Options that
are
> trading slowly, you can see your trade clear if you're watching R/T
> time-and-sales.
>
> Like any competitive entity, they can charge whatever they think people
will
> pay. It costs them very little to clear trades.
> _____________________________________
>
> At 11:32 AM 3/24/99 -0500, you wrote:
> >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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