Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 159.61

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10:42 AM EST

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To: DanD who wrote (28161)	4/24/1999 12:36:00 AM
From: dday	Read Replies (2) of 152472

REAMED, STEAMED and DRYCLEANED-------- Thanks for the link------ A very sore subject with me. I have been complaining about this to NASD and SEC for quite a while. Their response has been less than stellar----------nothing at all---------in fact, the local NASD office in charge of my region (I am a broker and ROP and in the biz for 19 years) did not know a thing about rebating for order flow. The truth is, as I alluded to in an earlier post, that the client is getting the shaft. Upside down and inside out. Use a limit and you don't get filled and cannot get a status for hour on your order. ( This despite the fact that the stock hit your limit and went through it countless times). Use a market order and you give the market maker a license to steal. I have traded with Mayer Sch., Meyerson and others. They are all the same. The big firms like Pru and Bear etc. farm out their orders as well for rebates. The article is erroneous on that point. If a large firm makes a market, I am sure that they execute in house. If they do not, they send it to a market maker who rebates them. I know this is the case with Bear and pretty sure on Pru. Can't speak for Mother Merill or Smith Barney. FSC, our of Atlanta which handles some 15,000 plus reps definitley gets paid for order flow. Any limit order placed has an implied "or better" that is attached to the price. That price or better .............In order to rebate, you can be sure that if you received your limit on an OTC order that the fill was a better price than you received. By the way and as an aside., I can tell you that I have personally taken these traders to task on executions------called and challenged with time and sales accompanied by best bid and ask in a market------you would be surprised how quickly they will adjust an order in your favor if you persist. There really is something to that ad about the broker 'fighting for that 1/16th of a point. Sorry for the rambling but this article hit a nerve.

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