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Non-Tech : E*Trade (NYSE:ET)

ET 16.41

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3:59 PM EST

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To: ecommerceman who wrote (7726)	7/21/1999 10:45:00 AM
From: Bob Kim	Read Replies (2) of 13953

ecommerceman, I think Merrill's efforts were designed more to keep existing clients from leaving or shifting assets to other firms than to steal customers from the OLBs. One potential advantage of the OLBs is their ability to give more equitable IPO opportunities to their clients. Merrill seems to allocate IPOs to their most established clients, thus a new client is likely to be on the bottom of the priority list. E*Trade and other OLBs give a lower asset level investor the opportunity to become a higher level asset investor. With Merrill's system, it seems you are better off being wealthy to start. I am generally happy with my Merrill account, but still do the bulk of my trading via an OLB. One question you might want to ask the Merrill broker who called you is why doesn't ML give internet access to its brokers? Bob

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