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Hi Keith,
If the S&P500 was an electronically traded market, you would not have this
problem and you would have been filled BEFORE those locals buying at
1379.50. The open outcry system is NOT a level playing field and this
S&P500 example is just another classic reason why electronic markets WILL
bring a more level playing field for everybody. BRING EM ON!!!
Best of luck,
Robert Bianchi
r.bianchi@xxxxxxxxx
Date: Fri, 26 May 2000 15:25:17 -0700
From: Keith <Keanjo@xxxxxxxx>
To: omega-list@xxxxxxxxxx
Subject: Is Timberhill ripping me off AGAIN!!
Message-ID: <392EF9CD.3359003E@xxxxxxxx>
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It seems that this company or exchange has some messed up rules.
@ 2:49 est. I am filled for S&P short @ 1381.40.
Next, I place a buy @ 1379.60 limit. It trades @ 1379.50 1 time @
2:53:54.
I am NOT filled. My broker says "it only traded there 1 time, nothing I
can do. Now, if it traded there 3, 4, or 5 times you would have a
legitimate gripe." He tells me "Timberhill can only do the best they
can to make a fill and that when it's trading a half wide like it was,
that there can be no guarantee." He says "most or a lot of brokers will
guarantee it but that's the price you pay to trade with Timberhill."
This industry seems so fraudulent!!
Keith
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