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Non-Tech : The Executioner
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To: Rene Madsen who wrote (3)6/17/1998 7:32:00 PM
From: Clarence Dodge  Read Replies (1) of 58
 
Rene

>I miss seeing some information about the
>financial situation though. I mean,
> to trade with a broker one has to
>have money on an account there. How would
> it work with TE? Will they operate >an account? What is my security as a
> consumer in this case? What if they >just take the money and run?

There is a brokerage associated with Executioner software which executes trades and administers your account.I don't know much about The Executioner organization but since the SW is a variation of other Real Tick III based systems , such as that provided by AB Watley and MB Trading, the broker is probably Terra Nova Trading which clears thru Southwest Securities. But I don't know this for sure....just an educated guess. Your acount with Terra Nova would be federally insured thru SIPC just like any other account with any other broker.

I haven't traded with any of these Level II systems, such as the Executioner, myself, but I'll bet you dollars to donuts its not as easy as its explainations make it sound. You'd be trading against some very savey traders let alone the power MM can wheel around.

I've been researching these systems for 3 months now and don't feel any where near comfortable enough to pull the trigger on one of them yet. I would suggest you procede with curiousity and caution. Of course, any of the traders threads here on SI are excellent places to get a feel for what trading with Level II sw is like. Check out exchange2000.com for an excellent list of resources ( if you haven"t already. of course).

Happy reading,
Clarence
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