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Technology Stocks : RGFX Raster Graphics
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To: Raymond J. Ashe, Jr. who wrote (159)8/9/1997 8:47:00 AM
From: Sam Citron   of 593
 
Ray,

Thanks for taking the time to try to explain. You say:

<<And it certainly would not apply to any of the web traders or deep discount firms because they keep all the spread they shave (that is there profit center-since they make virtually nothing off the commissions they charge(but thats a whole other story CALLED ORDER FLOW).>>

Well I do deal with a web broker at $15 per trade fixed commission. Am I saving pennies but losing pounds? What is "order flow"?

I hate to say it, but I think that the net is soon (5 to 10 years) going to make this whole labarynthian MM system obsolete. All we need is a clearing house attached to SI and we are in business -- the Exchange for the Next Milleneum! Like with Dell Computer, the benefits of cutting out the middle man will be enormous! SI already attracts much more traffic than that buttonwood tree at the foot of Wall Street where it all started. Imagine if you could trade here as well, without the friction and overhead of the corrupt MM system!

I don't mean to disparage your occupation. But wouldn't you agree that it is not a very efficient system that imposes such high transaction costs (about 5% in this case) merely to exchange the few bits of data involved in changing ownership registration of a security?

SC
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