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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: ISOMAN who wrote (12215)	3/3/2000 8:13:00 AM
From: ISOMAN	Respond to of 13953

Here is an exact quote from the TDwaterhouse help desk... TD Waterhouse has been an active leader in lobbying the regulatory bodies for the removal of the "client suitability" requirement, and we anticipate some movement on this issue later this year. TD Waterhouse has experienced an unprecedented increase in trading volumes. Unfortunately, this means that orders are taking longer to be reviewed than normal. We agree that the long wait times do not meet our standards and we are working to correct the problem. For example, we have hired hundreds of new account representatives over the past two-three months. Due to training procedures, licensing requirements, and other employment issues, it may take a little more time before all of the new staff members are fully integrated into our call centers. This hiring initiative will minimize future delays. Kindly also be aware that fill reports can be delayed from the exchanges - the time we report is the time that the exchange reports the fill to TD Waterhouse, not the time of the actual fill. Please be assured that TD Waterhouse is committed to bringing our average client wait times to lower levels. you think that the American olb are a pain, how about 1 hour telephone waits with these guys... that's why I switched my wifes account over to Etrade.

To: ISOMAN who wrote (12215)	3/3/2000 8:43:00 AM
From: BWAC	Read Replies (1) \| Respond to of 13953

Isoman, I don't believe that is necessarily true about the suitability rules in the US. It is in Canada and seems to be a big problem for TWE clients there. My orders go directly through and "normally" appear on the L2 screen within a few seconds. I know they appear as I generally only use limit orders so I do not fall prey to the whims of a market maker and his idea of market. Brown and Co. and DLJ are the fastest at getting the orders to market (within a mouse click). AMTD lags by about 5 seconds. However none has time in limbo sufficient to be manually reviewed for suitability. I am aware of the 'rules', but somehow the olb's seem to have been able to circumvent them. Possibly it is because they offer no advice, and only serve as a order entry point. It could also be in the account agreement legal wordings. Other than all that, maybe it is possible that I just filled out the 'speculation' checkbox on the account application suitability portion and that in itself makes anything suitable? Who knows for sure?