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ECN fees and misc fees are extra. They have a smart routing system to
actively look for the best deal for your order, or you can specify.
Execution for a lot of orders is within 3 seconds. I've had a few go
through in under 2s. The confirmation message saying order received and
the executed message came within a fraction of a second of each other.
At 11:12 PM 10/15/99 -0400, you wrote:
>Ullrich, is the $14 figure inclusive of ECN fees and any other "misc"
>charges?
>
>Also, is there any distinction made between execution routings?
>Limit/market/stop orders? Order size?
>
>By the way, 10 seconds is not good for an island execution in which the
>other side of the trade is present at your price; I hope it is much better
>than 10 seconds in this case!
>
>Thx, Dave Johnson
>-----Original Message-----
>From: Ullrich Fischer <uf@xxxxxxxxxxxxxxxxxxx>
>To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
>Date: Friday, October 15, 1999 4:51 PM
>Subject: Online trading service consumer report
>
>
> >I've been live with Cybercorp's Cyber-X trading system for two days
> >now. It is astonishingly better than my previous online brokerage for
> >daytrading and/or short term position trading. The executions have been
> >instantaneous -- typically less than 10s from the time I pull the trigger
> >to the time I get confirmation that the trade has completed. I get an
> >immediate log entry showing all my trades (open and closed) and where they
> >are in P/L terms. Stop loss and on stop orders are held on my PC until the
> >trigger conditions come up, then they are automatically submitted as market
> >orders. If I want to short a stock, I just have to enter it in their
> >order entry window and run my mouse over the short button to see how may
> >(if any) shares are available for shorting. Their telephone response has
> >been instantaneous as well. Once when I called, my hand was literally
> >still moving back from finishing dialing when the call was answered. Their
> >fees work out to roughly $US 14 per trade vs $US 29 for my previous online
> >broker. If all the above weren't enough, they sponsor a chat room where
> >everyone using their services can comment on what's happening with the
> >service and the markets. They have several of their employees in the chat
> >room during trading hours who give almost instant responses to any
> >technical questions that may come up. This is the way online trading
> >should be. To top it all off, I get a break on my datafeed fees by trading
> >through them.
> >
> >The only things I miss from the service so far, (and they say both are
> >coming real soon now) is getting transaction fees included in the P/L logs
> >and access to options trading.
> >
> >Their URL is www.cybercorp.com.
> >
> >I have no connection with the above company except as a pleasantly
> >surprised customer. -uf
> >
> >At 03:55 PM 10/15/99 -0400, you wrote:
> >>For the last week I've using BestDirect's direct connection to Globex
> >>2. The speed is unbelievable. I am getting fills back to my screen in
> >>2-3 seconds.
> >>(BTW--I have no connection with them except as a customer.)
> >
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