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Non-Tech : Wit Capital - The way of the future?
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To: sjemmeri who wrote (4663)6/8/1999 12:01:00 AM
From: Danny Chan  Read Replies (1) of 16809
 
FWIW, Waterhouse just updated their web site for IPO participation. They are one of the Wit Capital's e-syndicate for IPOs. Don't know how this will impact on future IPO allocations among customers from all the e-syndicates. Here is FAQ from Waterhouse site.

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What happens if there are not enough shares to meet demand?
The IPO e-syndicate (comprised of firms having similar arrangements with Wit Capital) may allocate shares on a first-come, first-served basis or random allocation basis amongst customers of those firms who have placed and confirmed their Conditional Offer to purchase shares in a particular IPO. For each IPO, the e-syndicate will establish the method of allocation as well as certain minimum and maximum allocation amounts.

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