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Non-Tech : Online Broker Down - Sue 'em - EGRP, JBOH, AMTD, SCH, NDB
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To: Michael Turner who wrote (144)2/11/1999 5:20:00 AM
From: Mama Bear  Read Replies (1) of 253
 
Michael, you mention selling order flow as if it's a sin. With a firm that sells order flow I can get auto execution at the inside. For example, ISLD is the only bid on the inside, and for 100 shares. I can sell 1000 shares on the bid instantly. With a direct access broker, wouldn't I fill for 100, and then become the offer, assuming a limit order at the bid? I marvel when I see trades executing below the bid or above the offer. I am under the impression that those are direct access clients, who can't get a fill at the inside, or are too nervous to take a chance waiting. I also get representation if I care to sell at the offer, or buy at the bid. For the life of me, I can't see the advantage, and can see several disadvantages.

BTW, I am not an Etrade client.

Barb
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