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Non-Tech : E.Schwab problems
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To: avenger who wrote (125)4/14/1998 12:13:00 AM
From: Randall Thomas  Read Replies (1) of 1401
 
Can anyone tell me what ESchwab customer autofills on OTC stocks (obviously ones Mayer makes a market in) are at present? In the past they were 1000 auto for soes1000 stocks, 500 for soes500, 200 for 200stocks, etc....though this seems to be worse terms than their larger correspondents are given (some are on 2000 on some stocks, and 1000 on soes500 stocks).....it seems like they would have raised them, since I can go to a correspondent, pay less than a penny a share and maul the trader (while they also pay correspondent for the order flow) in a soes500 stock, or go to schwab, pay 1/32 a share and get 500 auto and the rest manual...never have understood this strange logic....Mayer has the attitude that they have Schwab, so they are doing their correspondents a favor giving them execution but then they give those same Schwab customers absurdly low autofill amounts.

thanks

scott
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