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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: Fizz who wrote (4647)	8/22/1999 7:04:00 AM
From: steve goldman	Respond to of 4969

There is a reason why many broker dealers dont self clear. Clearing firms are often monsterous in size. Customer service wanes. As to why it takes so long, we know the answer...people are not working diligently to get it answered. Someone, somewhere is failing to provide thehighest level service. They forget that you are the client. Could be Brokerage firm, could be clearing firm. But that doesnt resolve issue factually. Beam may be authorized by SEC regs to be marginable but the clearing firm/brokerage firm may have decided internally to not provide margin on it. That it is marginable does not mean they will provide margin on the position. Ofcourse, then if you go beyond buying power and then sell out to cover your house/fed call, you have a 90day restriction. Clearing firms and brokerage firms can do whateer they want in that regard. Whether they handle it professionally or not is another story. Keep calling them. Ask for a sales supervisor. Suggest that you arent looking for a ruling in your favor, just a correct ruling, but if you dont get it in a few hours, you may have to go to the next supervisor up and as well, discuss with that supervisor the poor service below. They may just not care. With 24 million online accounts, they'd rather you walk. yamner steve@yamner.com