JB Oxford, Lombard, Etrade Message Board

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Non-Tech : JB Oxford, Lombard, Etrade

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To: Randy McWilliams who wrote (165)	1/15/1997 7:33:00 PM
From: Randall Thomas	of 396

Currently the first hour with etrade is a disaster; I am having 5+ minute delays in EXECUTIONS (i.e. locating my trade on the tape 5+ minutes after I entered the order) (confirms are at least 1/2 hour late) in the first half hour, and even an hour into the day I was able to cancel a market order on a nasdaq security a minute after placing it. I do not know how they have let this happen again (the execution delays are beginning to look like last spring) but I don't even use etrade until the afternoon now, when it is back to normal. When it works, 5-second fills are the rule but it is horrid when it doesn't....my inability to use etrade for a lot of the trading I did through them up until this week is creating a small crisis, and has cost me a couple thousand in bad fills and missed trades. I am using Brown for morning trades but fall under the great weakness of Brown's new improved PCLine (that their system doesn't refresh account contents continously, but only every 15 minutes or so, meaning that if you sell before it updates a purchase your order gets thrown out to a human for delay and review. this can be deadly in a fast moving stock). I really wonder if George Brown does this to drive away daytraders, as it is something that they are well aware of and have chosen not to change. Datek has its uses but I miss as much stuff as I get with them due to their mysterious order routing and slow server response (which is never their fault, of course. I have had buy orders placed before open sit with datek for 7 minutes before I gave up, cancelled, and used another broker.)... Randall

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