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Non-Tech : eSchwab
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To: Rick Ryan who wrote (44)10/25/1996 5:42:00 PM
From: ams   of 76
 
Rick,

Are you saying that I can buy a NYSE listed stock on the bid and sell on the offer with Schwab even when they use a regional exchange?

e.g. ABC bid 20 (size 3000 shares) offer 20 1/8 (size 2000 shares) (both NYSE quotes)

I want to sell 1000 shares at 20 1/8 and Schwab uses a regional exchange (time A). At time A+1, there is another 2000 shares offered at NYSE, making the offer size 4000. Now, there is a limit order to buy 3000 shares at 20 1/8. Does my order get executed? If so, then I have no problem with Schwab using regional exchanges. If not, then using regionals hurt their customers.

Does Schwab ever use the Third Market for listed stocks?

Thanks in advance.

Tony
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