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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: Sword who wrote (4045)	5/9/1998 4:57:00 PM
From: jlonj	Read Replies (1) of 12617

I had a duplicate execution about 6-9 months ago in a Dreyfus account that was due to a software conflict between the Netscape version that I was using and Dreyfus' software. They apparently knew about the software problem and immediately cancelled the duplicate execution. Your experience mirrors my own concerning Dreyfus' responsiveness and the caliber of their personnel. The downside is that going from the first order entry screen to the second confirmation screen to the third order acceptance/order reference number screen can take as long as one minute on a busy day, and even for a long term investment that delay can cost you..or save you...some money. Their low option commissions are important since 25-30% of my trades involve options; depending on which option exchange carries the options, the execution times can range from 5 seconds to 5+ minutes. There is another broker that now offers stock and option commissions competitive to Dreyfus, with additional services such as check-writing privileges and higher interest paid on cash deposits. I may open up an account there to determine if their executions are faster. jlonj

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