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Non-Tech : JB Oxford, Lombard, Etrade

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To: Howard Croy who wrote (66)10/28/1996 10:07:00 PM
From: Randall Thomas   of 396
 
Etrade's first half-hour confirm speed has improved notably in the last couple of weeks. Confirms on market orders at open are now delivered in about 10 minutes, half what it was a few weeks ago. I continue to be happy with the improvements in Etrade's system speed/reliability. Things I would like to see are access to Nasdaq's selectnet/soes system.

If an etrade rep is reading this, I am curious to know if market orders are matched against internal limit orders from other etrade customers -

example: stock XYZZ, bid 10 ask 10.25 etrade has a customer with open order sell limit 1000 at 10 3/16, all or none. Then another customer places a buy 1000 (or more) at market. Will the sell limit be executed to match the customer's order, or will the market order be sent to a MM and the limit order remain open?

Thanks for clarifying this...

Randall Thomas
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