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Non-Tech : Waterhouse Securities -- Ignore unavailable to you. Want to Upgrade?

To: Rambi who wrote (179)	10/28/1997 6:10:00 PM
From: Instock	Read Replies (1) \| Respond to of 2076

Everything you just said about waterhouse, I agree 100% It was CrP! Could not get though local office, touchPhone or website. Yesterday was not much better. I have been having problems with their website in the mornings for weeks now. God knows how much potietial gain i have lost because of the slow website. Instock

To: Rambi who wrote (179)	10/29/1997 4:07:00 PM
From: Jyoti sharma	Respond to of 2076

Penni, Today I was atlast able to talk to Waterhouse Electronic trading people. Here is what I have learnt: 1 The software for webroker is being updated. Newer software with less graphics will be faster. It's in beta test now. 2 Windows software for WIPN has a lot of bugs. It was not up yesterday and this moening. 3 The busy signals on telephones were due to high call volume. I am a telecom engineer and understand a little bit about Internet and computers. My read is that Waterhouse has a lot of new customers due to postive articles in Smartmoney and other publications. They do not have any idea how to cope with the growing volume of trading. It will probably take them atleast a year or two to solve their problems. Their connection to Internet is via UUNET over T1 lines which I am guessing are not properly configured for their traffic. I like Waterhouse's service overall but Webbroker and WIPN will need a lot of software debugging before it can handle a large volume of traffic. I lost a lot of money on tuesday morning due to Waterhouse problems. My full service broker took care of my trades eventually. If you have better experience with other discount brokers please post it here. Profitable trading Jyoti

To: Rambi who wrote (179)	10/29/1997 7:10:00 PM
From: Julian Chen	Read Replies (2) \| Respond to of 2076

Waterhouse's Web broker that made an error that costs me $3300 yesterday. I just finished talking with Waterhouse's Chicago branch customer service and I was extremely upset about what Web Broker did to me yesterday : On 10/28/97 just around the market open time I entered a market sell order (300 shares of CSCO) through Web-broker. Immediately after I entered the order I decided to cancel this sell order. After checked there was no execution done through Web broker I canceled my sell order and received cancellation confirmation. At 8:56 AM (central time) Web broker order status report showed my OPEN order was CANCELED. (notice it is not saying cancel pending, it said OPEN ORDER CANCELED, I have a printout from Web-broker to prove this). During the day I have checked my account many times and as late as 4PM Chicago time every time the Web-broker confirmed the open order was canceled. Then, to my surprise I received a phone call around 5:10 PM from Waterhouse office reported (note that they just changed their policy not to report Web execution!) that the open order was executed! She claimed Waterhouse did not know the order was executed until 5:12PM (Eastern time). From the way she talked I can sense that she knew this is a fault of Waterhouse. She also offered to give me a some what better price for the execution. Since I insisted they to cancel my order she passed me to their customer manager - Mr. Klxxx, a rude and very unpleasant person. After I faxed my order cancelation printout to him, he admitted their system showed my open order was canceled. However, he insisted no matter what the system told me, the execution was valid and can't be canceled. My bottom line is we customers are based on what their system told me to do our trading. In this case, were Web broker not showing my open order was canceled, I would buy back my shares immediately. There is no excuse to pass error(s) like this to customers. I know brokerage business is a regulated industry. Can anyone tell me which insitute(s) I should contact to disbute this with Waterhouse? I am also considering to use a lawyer. Thanks! Julian Chen julian.chen@lucent.com