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Non-Tech : Remote Trading International

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To: Stinkie who wrote (10)	12/22/1998 3:54:00 PM
From: Dirk Hente	Read Replies (1) of 24

I'm currently evaluating various direct order routing firms ( about 30 or so) and found RTI quite interesting for my trading style. They seem to be perfect for the 'not so active' daytrader. The only drawback I can see at the moment is that their ticket charge for listed stocks is quite high 14.95$ + 0.01/share (mo) and 0.0175 (lo). I've send them several emails with various questions and always got immediately reply from Uri Burstein (one of the co-founders of RTI). They've been in business for about 8 months. The following is an extract of my findings: 1. ISLAND orders are Divisible, meaning if you are hit for a partial fill the order will remain out in the book until the remainder is filled. 2. The RT III software is the customizable version 3. Fee structure is as follows....$14.95/trade NASDAQ....$14.95/trade NYSE + $0.01/share market order and $0.0175/share limit order. The membership fee includes NASDAQ level II and NYSE feeds. 4. The only other cost you will ever see is if you selectnet preference an ecn, you will be charged a passthrough that will be in the range of $0.0005/share to $0.01/share. RTI picks up SOES, Island and Selectnet. 5. No cancellation fees 6. Partials are charged when you are split on diff levels on diff tickets 7. Their broker is Stock USA, clearing is done by Computer Clearing Services Stock USA is a registered NASD memember (CRD # 40687). I checked out the records of Stock USA @ NASDR (using the 'Public Disclosure Program Online pdpi1.nasdr.com ) and found out that - there is no 'disclosure event' - Date of formation is 03/23/1995 - Prior Business name was 'Stock USA Investor's Club' Stock USA is a Nasdaq 'market participant' and registered as an 'order entry firm'. The 'Market Participant ID' of Stock USA is 'SUIC'. There are several other firms which have a lower ticker charge (JPR $10+, RML $14.95+, RTDt $7.95+1cpsh) but the monthly fees are much higher, so it all depends on the number of trades per month. The 'cross over' for RTI vs JPR seems to be: no_of_tickets x 14.95+100 = no_of_ticketsx10+250 no_of_tickets = 150/4.95 which is approx. 30 tickets per month . Sure there are a lot of other criteria for a firm but they are very hard to measure and to verify.

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