Softbank Group Corp Message Board

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Technology Stocks : Softbank Group Corp

SFTBY 70.44

-3.2%

Nov 7 9:30 AM EST

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To: Edwin S. Fujinaka who wrote (5090)	5/10/2000 11:00:00 AM
From: Edwin S. Fujinaka	Read Replies (2) of 6018

I put in a buy order at $218 yesterday while Schwab had their "indication" of a $215 bid and a $245 asked. My instructions were to execute overnight in Japan or in the US. The overnight low in Tokyo was 22,980 yen which translated to $209.94. At 10:30 am EDT I have not received a confirmation and the Schwab Global broker says that it may not be posted for a couple of hours yet. He also did not guarentee execution since they operate on a "best effort" basis. When trading in Tokyo, there is an additional expense that is somewhere between 1-1/2% and 2-1/2%, some of the Schwab guys just say 2%. (The Schwab commission on these Softbank trades might be around 0.2%). Even if we figure 2-1/2% in additional expenses, the low of $209.94 would only require $215 so my $218 trade should have been executed. We'll see. I did get into a little discussion of the current US $215 "bid" since I wondered why my actual $218 bid didn't show up. My Schwab Global broker didn't seem to understand my question, but what's $3 anyway? <G>. Actually $300 on a trade of a round lot of Softbank is far more than the commission that Schwab will make on a Softbank trade.

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