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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TFF who wrote (3716)4/13/1998 4:19:00 PM
From: steve goldman  Read Replies (1) of 12617
 
No, but then it could have been down and up without our noticing.

I also received a number of emails today regarding quality of execution and to given an example of a quality execution. Today we had two that exemplified two possible improvements, one somewhat in line with a quality execution and the other an aberation. Regardless of the irregularity of such an order, the client, not our firm inventory account benefited.

One was a buy of 500 SEG at market , at the bid of 25 when the stock was 25 x 1/8. Any mmarket maker or principal would have filled most likely at 1/8. Just so happened that the stock was printing at 25 and that is what you should get, not the offer.

The other was an exceptional execution that Yi, (one of my traders) worked all day..to sell 200 small shares of CYBG at 14 1/4. Yi let the stock run all day..it happened to simply keep moving higher and was able to sell it at 17 3/16 average on a 14 1/4 limit. To me that is $600 hard dollars in clients' pocket, well worth the $35 plus 2 cent/share we charged for that one.

Note that the two examples are only examples of trades that i though were unique in today's trading and do not make any suggestion about our ability to get price improvements with regularity. The point is...if an improvement can be had, and its realized, YOU, not some firm account get it.

Regards,
Steve@yamner.com
yamner.com
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