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Non-Tech : Waterhouse Securities

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To: Dave Hanson who wrote (301)	2/19/1998 11:19:00 AM
From: Thean	Read Replies (2) of 2076

Dave, I actually avoided placing NYSE/AMEX trades via Datek because one cannot place stop order on them. As far as execution is concerned, Datek is still better in speed and price improvement on Nasdaq trades. It has taken Waterhouse 5 minutes lately to place an IRA buy limit order. The screen keeps saying "pending". When asked, the rep said it actually takes a human 1 minute to make sure all the money is there but he could not account for why it took 5 minutes for a market order to go through (even though the limit was placed at above market condition). Again, they refused to upgrade their software to let computer do the stupid "check if there's enough money to cover the trade" calculation. Anyone has some better suggestions to a third source for educational IRA. I have two that I'm going to open shortly and am thinking of doing it elsewhere.

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