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Non-Tech : Amati investors

AMTX 1.600

-1.8%

Jan 9 9:30 AM EST

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To: Eric Goethals who wrote (15950)	5/1/1997 3:08:00 PM
From: Andreas Helke	of 31386

[How germans do stock buying] Hi Eric, I have visited my local Commerzbank office more than once for buying stocks but do most of my trading by phone or the web. When I started to get interested in american technology stocks I kept using my traditional Commerzbank account. Commissions are typically about 1%. If you buy on NASDAQ or NYSE you can add another 1% to the bill. The next step was Consors a german discount broker. Orders on german exchanges are very cheap with 0.22% commission and a few DM of fees. But for US orders you have to add 49 DM (about $30) on fees and $21 for the american broker who is involved in the order routing. In november they started to offer internet trading with a very secure and pretty slow Java applet. A few days ago I added Datek to the mix. Money transfer is expensive (almost $100) and slow (more than a week until a wire tranfer was credited) but now I can react to market moves within seconds. What I dislike even more than the high fees of german brokers are the limited operating hours (we are in a different time zone) and the slow execution of orders. I think it takes several minutes to more than half an our until my order finds its way to the trading floor. Many germans buy american stocks on german exchanges. Several hundred companies are traded on german exchanges but I mostly prefer to buy in New York. Andreas

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