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Non-Tech : bad experience in Charles Schwab recently
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To: ams who wrote (24)2/24/1997 1:52:00 AM
From: Liren Chen   of 124
 
Ams,

Thank you very much for very informative email.

It was surprised to me that both my orders were tow of the first 50
Nasdaq stocks in new rule and both tradings were after 1/20/97.
I expected that the new rules would execute better for order size
excess 1000 share. It is not true in my find. I placed to
sell 1400 shares of a stock (one of 50 stocks) at limit price
equal to asking price 2 weeks ago. In the later 5 minutes,
asking size keeped 10 without moving the price. My size 14
never show in asking size and my order was not billed. I think
Schwab did not honor SEC rule in my order.

I plan to open an account in Datek (Watcher account instead of
regular) or Block trading. Which firm do you perfer? I plan
to use remote trading.

Thanks a lot again.

-- Liren
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