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Non-Tech : Waterhouse Securities

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To: J.S. who wrote (245)	12/18/1997 8:43:00 PM
From: Julian Chen	Read Replies (1) of 2076

Waterhouse screwup update: I totally agree with you that Waterhouse is good until you are dissatisfied with something, they may admit their mistake but they won't correct it! For those people follow this tread may remember Waterhouse's Web broker mistakenly reported a trade cancelation that was not canceled on 10/28. And it costed me $3300. They admitted it was a problem of their system and will be fixed soon (all cancelation will be listed as pending until it is confirmed then it will be listed as canceled) However, they won't do anything to correct the screwup. In their formal letter to me they just said this is a "risk" anyone using electroic broker should bear. See #188 if you want to know the detail. I am now officially entering the arbitration stage with them and will let you know the result. Julian

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