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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: Dan Clark who wrote (7882)	1/14/2000 5:40:00 PM
From: Wayners	Read Replies (1) \| Respond to of 12617

I'll SNET an ECN because I'll already be set up with SNET as the route and the preference box checked--so I have the flexibility to hit a MM or an ECN, depending on who happens to show up at the inside in the next few seconds. The time it takes to switch from SNET to the ECN (be it ISLD or ARCA) and then hit the ECN, those shares are usually gone already and there is now a MM sitting at the inside, and now I have to switch back to SNET to try to hit the MM by which time the MM is now gone and its moved another level on me.

To: Dan Clark who wrote (7882)	1/14/2000 6:21:00 PM
From: brec	Read Replies (2) \| Respond to of 12617

You mention SNET broadcast a couple of times, but it wasn't used in Cyber's example fee calculation. The ECN's would've been hit via Selectnet preference. Anyway, the example was Cyber's. Maybe they didn't have REDI direct and ATTN direct when they created the example. Stepping out of these picayune details -- I recently decided to go with MBT rather than CyberX because I thought I might do a little better on commissions given my current and planned activity pattern. It's close enough that I could be wrong, however. I believe both offer responsive customer service. The third firm in my evaluation is Interactive Brokers -- one cent a share ($1.00/trade minimum), no other costs. They offer direct to five ECNs, Selectnet broadcast, and, for seclected stocks, direct to a market maker, MASH. However their software interface is, um, eccentric; there's no Selectnet preference; and parts of their system seem to be in what I'd call a beta test stage, 'though the firm and its parent, Timber Hill, have solid experience in electronic trading.