E*Trade (EGRP) Suggestions (NOT FOR FLAMES!!) Message Board

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Non-Tech : E*Trade (EGRP) Suggestions (NOT FOR FLAMES!!)

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To: pcyhuang who wrote (85)	12/28/1997 10:07:00 PM
From: Randall Thomas	Read Replies (1) of 118

Nice to see you here, Paul...haven't corresponded with you in a while... The interesting thing about Etrade is that the basic structural problems' symptoms have remained the same as long as I can remember. Since May 1995 I can remember extensively delayed confirms of trades in the first 20-+ minutes. This simply is not something that should be that hard to fix, yet to this day it continues. Self-clearing seem ed to fix a lot of this at first, but then it was back to 20-minute waits for confirmations, with inability to liquidiate positions until you actually got the confirm. Firms like Brown and Co, Schwab (granted that they own their own wholesaler for otc stuff), and Fidelity use a variety of wholesalers and don't have a problem with this. I always used Etrade direct connect, because the I do not consider the web a viable method for transmitting extremely time-sensitive data. The ONLY brokerage whose web site I have found acceptable for trading is Fidelity/Spartan, though I find their in-house market maker NFSC to be more dangerous to execution than etrade's web site problems. The cost of the extra phone line to dial direct into compuserve network to reach etrade paid for itself daily... Can you imagine the effect on the mental health of Etrade customers all this time if they did NOT have checkwriting? I believe that would have aged me an extra year or two. Scott Thomas

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