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Non-Tech : Brown & Company New "5 and 10 Store"?
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To: dpl who wrote (240)11/12/1998 11:21:00 PM
From: Randall Thomas  Read Replies (1) of 1865
 
This is from brown's web order cancel page

NOTE: ALL CHANGES AND CANCELLATIONS ARE SUBJECT TO PRIOR EXECUTION. PLEASE CALL TRADING IF YOU NEED CONFIRMATION OF YOUR CANCELLATION.

Your open order disappears when you put a cancel in instantly, as soon as the cancel is sent to the MM. this is not the same as a UR OUT from the market maker on the order. Many brokers distinguish between attemtping to cancel and verified cancel. Brown doesn't. I have been through this too many times with Brown to not know what I am talking about. Both Mayer and Nite have been very slow in getting reports back on active stocks recently even during midday, so this can be deadly.
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