Funk...lol! You and I could go back and forth all day on this one! LOL!
Call ABW...ask them if they are a broker-dealer, a brokerage firm.
I know you hate thinking about ABW as a brokerage firm, but thats what they are.
The Clearing broker or clearing firm is the company that holds the securities, handles receiving cash, wires, transfers, etc. Our clearing firm is Pershing, div. of DLJ. They are not the broker-dealer, the brokerage firm, we are.
ABW is your broker dealer. You must do biz with a broker dealer. You can not legally enter tradeson the NYSE or NASDAQ circuit without routing the trade (whether it be via. phone, internet interface) without a broker dealer. ABW watley is a broker dealer, a brokerage firm, like any other in nature, better than most in services for the online active trader.
Regards,
Steve |
