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Technology Stocks : All About Sun Microsystems
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To: Charles Tutt who wrote (39066)12/12/2000 4:08:01 PM
From: Prognosticator   of 64865
 
Schwab are not my favourite topic of conversation at present. I'm thinking of switching to another broker, it's only sloth that prevents me from doing so immediately. One fun thing I found out yesterday when they scalped 1/2 a point off an options trade: they quote a 'consolidated' bid/ask price, but are free to place the order on whichever options exchange they like. In my case, the Chicago exchange was quoting something like bid 7 1/2, while the Pacific exchange was bid 6 7/8. Guess which one my trade got done on? All perfectly legal, no doubt with Schwab arbitraging the difference into their own pockets. All because options trades don't have to be done in a consolidated manner.

P.
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