[To those of you who are looking for INTC commentary here, please forgive and disregard this post. I regret posting here but it was not I who launched this discussion on this thread. It was Mr. Brandon Fr.. Now I will post the following, and then leave you to your discussion.]
Thursday, September 28, 2000 1:19 PM ET
To: CountofMoneyCristo
From: Brandon
What the hell are you on dude? Ok, ill say this one more time. I dont payment for oder flow from anyone. No one pays me one cent or half a cent or anything at all for relationships with my clients. I choose to recommend MBTrading to my clients because I myself use them and think they offer the best product and service for the money. Thats it. I dont receive a dime from them, and they are the only broker I send anyone to. Yes, I have been approached by brokers offering me payment for order flow because I own and operate a large site. Its not illegal if its diclosed. I however, like you, feel its not the most ethical thing in the world to take order flow, so I choose not to do it. It is however NOT ILLEGAL provided there is disclosure of such a relationship.
-B [Received in a Private Message, which I will post publicly, as I never assured any of you I would not.]
I have added emphasis to two of your incredible statements.
First of all, you admit that you run a site and you also trade. Do you personally, or any member of the staff of your site, trade stocks which you recommend to your clients? Are your clients aware of this? Is this conflict of interest disclosed on your site?
Secondly, you state that you have been "approached" by broker-dealers attempting to contract illegal agreements with you. [It is not yet proven that Internet sites may contract these agreements even if they are disclosed, as they are not registered and thus have no standing as an introducing broker.] It appears you have not contacted the authorities about this illegal activity. WHY NOT? Don't you dare make public pronouncements of your integrity when you have admitted this to the trading community. By not alerting the Securities and Exchange Commission and others of this behavior, you are passively complicit in massive fraud. Shame on you!
Olivier L. F. Asser
p.s.: The question of you taking payments for "oder flow" would not present any conflict-of-interest with your clients, my friend. I am told all that is required are the proper hydro-electric dam permits from the Polish government. |
