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Non-Tech : MB TRADING
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To: John Hunt who wrote (17)4/5/1998 4:43:00 PM
From: Scott  Read Replies (2) of 7382
 
My MB account is about to be activated, and I've been reading the manual. One thing confuses me. In the description of SOES order entry, it says that there is a BBO - Best Bid or Offer selection, which means try to buy at the Bid or Sell at the Offer.

I thought that for SOES, you can only buy at the offer and sell at the bid.

Is BBO just a shorthand for a Limit order, with the price precomputed?

Wouldn't it be better to try to go inside the spread with an ECN or Selectnet?

Another question, about listed trades. How does MB compare to Datek as far as NYSE and Amex fills? And what is the difference between Southwest Securities and ABN-AMRO as far as speed, fills or other factors? Why would I choose one vs. the other?

What sort of statements does MB provide (electronic and paper)? Will I be able to do my taxes without transcribing the trades?

Thanks a lot.
Scott Orshan
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