Out of left field comes Lizzard...
re: that post, i recall that post, i believe it was about a month ago or so, from a relatively new poster who was as well a client of ours, who got a big lucky, on a particular trade. I think it was following a discussion where we/thread were talking price improvement and someone was questioning how they get done, the difference between one where the market is flying in your direction and the other, more passive style, where you simply handle the order properly rather than routing to a third market maker or market maker.
"seem to have a lot of these posts"...people sit there, argue that this that and the other cant and wont happen. From my experience I say something else, and those who have experience chime in. I on many occassions agree that some of these technologies are wonderful, the ABWatleys, MBTrading (my personal favorite), but you all know my opinion of what type of submitting orders is more appropriate for most traders/investors. The post by SP, I personally I think it corroborates the point with experience from similar traders. That the person posts it on four thread, well, i think he was just a bit jubiliant from that execution and felt like being extra nice.
In that particular instance, I believe that CYBG took off in a short period of time on earnings or possible merger/takeover rumors, but I dont recall specifically. Ask the client if he was disappointed with the execution or any of our other service. I dont think the extra 3 points upset him. The difference in execution time was something like an hour or so we worked it. Oh yeah, he paid 4 bucks in commission more, 2 cents x 200 shares for that trade. We had a bunch of orders in that stock and so we worked them bunched.
Any particular reason your post came a number of weeks later?
re: Sued? We've been in business for over 20 years with one, not one fine or violation. You know many firms besides our that can say that? Why? because we always do right and make good by the clients. If we make a decision or bad judgement, we eat the error, the client shoul never be disadvantaged.
Its my pleasure to contribute to the thread, offer guidance advice, my take on things whenever possible. I have a particular opinion about firms, etc, execution systems, and other market items. On many occassions, I WILL reference in our firm because we are pretty singular in what we do. I always answer sincerely and with 100% sincerity. I have never lied or deceived this thread or any thread. Too much to lose and nothing gain, especially since the facts handle it themselves. I like arguing the points and I think many derive a better understanding of the markets from it.
Sorry that SP's post offended you, unfortunately, I think many appreciated it as it validated some of the things I had said previously. There are many things that people might find offensive on SI, your thread perhaps. There are seven arguments I could make for it and against. In the end, the cumulative experience, knowledge and other insight that everone brings to this site, makes it one of the best around.
Regards,
Steve@yamner.com
yamner.com
Regards,
Steve |
