Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: Shafik Habal who wrote (5046)	7/17/1999 11:35:00 PM
From: Francis Ou	Read Replies (1) \| Respond to of 7382

I think MB Trading offers Dow Jones News for $95/month.

To: Shafik Habal who wrote (5046)	7/18/1999 1:11:00 AM
From: -	Read Replies (1) \| Respond to of 7382

Shafik, Thanks for the note. FYI, the 'ARCA' you get from ABW is just visibility to ARCA bids and offers - you can see the quotes and preference/'hit' them (like Cyber has), but you don't have full access to ARCA's superior order-working (auto-preferencing engine) capabilities. Only two brokerages in the country have that, through close affiliation with Terranova (MBT, and X). There is a huge difference between proactive, full access to ARCA's order-working engine, and just being able to hit the (still thin) bids/offers setting on ARCA, from "the outside"! Like, 100% different... I pretty much agree with the negative comments about SWS. They have been a bit surly when I had to deal with them, at times; not a good sign. However, in over six months of getting their somewhat crummy trade and margin reports, I've never had a truly "scary" error, like someone else's trade ending up in my account. Their reporting appears to be somewhat sloppy, and is hard to interpret correctly. ciVic, that is probably one good knock on MBT. SWS has given me two false 'Reg. T' calls, due to their sloppy math - including one just this week. MBT is usually very good about catching and correcting these though, they seem to keep their own set of parallel books. I've never had to argue about the calls, when they're wrong they get fixed. I've never had to correct my balance, or get someone else's trade pulled out of my account. However, re: the other major alternative clearing firm (Penson), although I agree their online reporting is better - they can be a real nightmare. It took over a month of fighting them (literally, nearly every day) to get my trading $ out of Penson once I notified Cyber that I wanted to transfer out my funds; I have an active NASD complaint working against them. Cyber's legal counsel wrote me two very nasty letters which I'd be happy to share - just amazing, they really think they are hot stuff I guess. There is really no forgiving their combination of incompetence and arrogance in a brokerage operation. The bottom line is I'm happy to be "free" from Penson-jail, and am getting by with SWS, but would prefer to see MBT upgrade to a better clearing firm. Or, for SWS to clean up their act and modernize -- their margin reports are old-style (apparently 3270 stuff) and somewhat arcane, as pointed out not nearly as clean or useable on-line, as Penson's reports are (to their credit, to be fair). MBT has a choice of two news feeds, I use Marketwatch (Reuter's+Businesswire+etc), the fee is waived at only 50 trades/month. Glad to hear ABW is a decent firm, I still have my eye on them just in case. I didn't know that IFSX had already gone public, that should help giving them more $ for servers, support staff, etc. Options would be nice, I trade the OEX frequently. I think options trading in IRAs is pretty standard (of course an SWS account can't do that) as long as you stay to covered calls or hedging with puts as proscribed by Uncle Sam... Good trading, -Steve