PMB, and alternatives

[AMPWood@xxxxxxx]

Rts,

I have seen a number of positive comments on PMB. After having  had big
problems with LFG, I have been looking for another broker. I checked with PMB,
and as of yesterday, I found out that my comm on day trading the S&P, if I
used a stop to get in and get out, would be as follows:

        Comm                $15.70
         Fees                     4.00
         Stops , 2@ $10 =20.00
                                 ----------
         Total                  $39.70

This may go down by summer.Also they have a minimum size order on certain
commodities of 5 contracts. It makes my present $14.70 look pretty good,
if I could only get good service out of LFG. Does anyone have a recommendation
on a good online broker that offers good fills at a low  rate.

I will attempt to  copy the letter being sent to PMB clients.

    Thanks,
     Dennis



>All PMBe Clients:
>
>Because our primary provider of execution services at the CME and the
>CBOT has raised its fees as of the 1st of February, PMB has to
>unfortunately raise its prices for execution services offered on the
>Hand Held Units (HHU).
>
>We deeply regret this increase in prices and in the hope of reaching a
>different agreement we did swallow the increase in costs for February.
>However, we are unable to absorb the increase in costs going forward
>and therefore have to partially pass on these increases.
>
>Starting March 1, 1999, new fees will be implemented for the CME
>markets available on PMBe in Direct Entry, more specifically, the
>S&P500 and Nasdaq contracts. A transaction fee of $2.00/side will
>be added on to each executed contract. There will also be a $10.00
>transaction fee added to all executed S&P and Nasdaq stop tickets. PMB is
>currently working on several projects to work S&P and Nasdaq stop orders
>with a different electronic broker or system which will possibly eliminate
>the fee. As the project develops and more information becomes available, we
>will send another email regarding this matter.
>
>Also starting on the 1st of March is a minimum lot size requirement
>of five(5) for the CBOT markets available on PMBe in Direct
>Entry, more specifically, the T-Bonds, Dow Jones, and Corn. This
>also means that you need the proper margin to trade five-lots in
>each of these markets. For example, to trade T-Bonds you need to
>enter a minimum order quantity of 5 and the overnight margin on
>the five would be $13,500 (2,700 x 5).
>
>In the meantime, PMB thanks you for your continued business
>and support.
>
>PMB