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Non-Tech : Wit Capital - The way of the future? -- Ignore unavailable to you. Want to Upgrade?

To: Shadowed who wrote (4662)	6/8/1999 12:09:00 AM
From: Elroy	Read Replies (3) \| Respond to of 16809

OT - TD Waterhouse is going public later this month (week of June 22, according to a bunch of recent press releases). I have a Waterhouse account, and they've finally added "IPOs for individual customers" capabilities. They have a FAQ list on the web page now, and there was this mention of Wit that I thought folks might be interested in. What happens if there are not enough shares to meet demand? The IPO e-syndicate (comprised of firms having similar arrangements with Wit Capital) may allocate shares on a first-come, first-served basis or random allocation basis amongst customers of those firms who have placed and confirmed their Conditional Offer to purchase shares in a particular IPO. For each IPO, the e-syndicate will establish the method of allocation as well as certain minimum and maximum allocation amounts. I thought it was odd that they have this mention of Wit on their web page, and no other explanation for customers that may not even know what Wit is. Their set up seems similar to Wit (actually more strict). 60 day holding period, minumum $50,000 in the account, and if the offering price is raised, you have to confirm again before they send tyou the first email confirmation.