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Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: sbt48 who wrote (2392)	11/18/1999 1:00:00 PM
From: dk10438	Read Replies (1) \| Respond to of 6020

nice move by your son, at least e trade couldnt screw him on the bid/ask like they usually do.

To: sbt48 who wrote (2392)	11/18/1999 3:20:00 PM
From: Edwin S. Fujinaka	Respond to of 6020

The $571 close in Tokyo (calculated from Yen) was around 1 AM EST or thereabouts. At around 11:30 AM EST Softbank closed in Frankfurt at around $596 (calculated from Euros). So your Son's trade at Etrade at $595 looks pretty good. Unfortunately, Softbank trades in the US on the "pink sheets" or the Over the Counter Bulletin Board (I hope the terminology is right). In the US Market we usually have to rely on a market Maker like Merrill Lynch and they usually quote at least a $10 spread between the bid and asked prices so you were actually lucky to split the difference. A few minutes ago, Schwab quoted $590 Bid and $600 Asked which was probably what your Son was quoted earlier. All of my trades in Softbank through Schwab have been executed overnight in Tokyo rather than in the US via the US Market Maker. Even these trades may incurr additional fees that could go as high as 1% (or maybe more). On a round lot of Softbank at $600, a 1% add on fee is $600 which is over ten times the Schwab commission to me. There is still too much room for these nickel and dime ripoffs and I hope we will see a World wide Nasdaq Market that trades Softbank and all of it's subsidiaries 24 hours per day soon.