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Non-Tech : E*Trade Responds
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To: Mikhail Rasolis who wrote (37)10/2/1997 8:10:00 PM
From: Bikergirl   of 42
 
RE: "TO ALL: WHY AM I CLOSING MY ACCOUNT AT E*TRADE.

On 09.16.97 I placed an order to buy 1000 shares of CCO at the
limit price of 1 7/8 Good till cancel. CCO trades on Midwest Stock
Exchange.
On hour later I see CCO trading at 1 13/16, but my order is not
executed. The stock closes at 1 3/4 and still no execution for my
order.
On 09.17.97 CCO openes at 1 3/4 and my order is not executed.
Finally my order is filled at about 12:15 p.m. on 09.17.97 at 1 7/8.

When I ask E*Trade for an explanation they wrote me the following:
" For your trade inquiry, your trade
did execute as the stock price hit
your limit. You received the correct
price. Thank you, Customer Service "

Any suggestions?

E*Trade executes its listed trades on the 3rd. market. It is less expensive than placing the trades on the floors of the exchanges. 3rd market market makers are required to fill trades based on what the stock is doing on the floor though. Did you place your trade during market hours or before? Did you place any restrictions on the order, i.e. "All or None". If you believe you received a bad fill, you can call them and have them check time/sales at the time you placed your order, and they will check to see if you were due a better price. Ask them what the bid and ask were at the time you placed the order.
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