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Technology Stocks : Ascend Communications (ASND)
ASND 201.40+2.3%Dec 10 3:59 PM EST
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To: craig crawford who wrote (7380)7/26/1997 12:03:00 AM
From: Frost Byte   of 61433
 
Spoke to 2 different people at E-Trade regarding my ASND transaction....They blamed it all on the market maker..They said that the market maker accidently sent them the trade confirmation that the shares were sold at 51 1/4 and that all they did was relay the trade confirmation to me. The market maker then contacted them this morning and told them that the trade really never went through (by now the stock is a couple points lower) I told them that if this had happened at Merrill Lynch or Schwab, they would simply made good on their word and purchase the stock from me at 51 1/4.

Basically, their response was, "Well, you get what you pay for....we are a discount firm and we don't take any responsibility for the actions/mistakes of the market makers...NASD regulations allow the market makers to correct any mistake they make at any time prior to settlement (3 days)."

The only positive that could come out of this is if ASND jumps next week...isn't there some sort of networking conference?
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