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Strategies & Market Trends : BROKERAGE firms that trade stocks in foreign markets
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To: Jethro who wrote (6)4/18/1998 12:30:00 AM
From: peter michaelson  Read Replies (2) of 16
 
Jethro:

I have been pretty successful at shorting TTF, TC, IF, MF, JGF and others through Datek. They seem to be able to short many issues that other brokers do not, and there is some discussion on the Datek thread as to how this phenomenom is possible.

I have bought some London investment trusts through Schwab. The transaction costs are too high, partly because Schwab uses a US based market maker who makes commitments to US customers during US market times and fills the orders in London the next day. This market maker therefore charges a risk premium. Anyway, I think this is part of the problem, let alone the outrageous spreads in London and commissions.

Thank you for the TISCO tip. It does sound like a good bet. Assuming you are based in the U.S, I'd like to ask whether you maintain a cash balance for trading in Hong Kong, or whether you delay your investment long enough to wire funds to Hong Kong, or whether the broker allows some time for settlement.

I am impressed that you see fit to pay Mr. Renaud's rather high subscription fee. Is it specific stock tips that makes this worthwhile?

Thanks and I wish you a pleasant weekend.

peter michaelson
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