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Pastimes : ETRADE Sucks! -- Ignore unavailable to you. Want to Upgrade?

To: HairyWho? who wrote (777)	11/3/1997 9:22:00 PM
From: Thomas Scharf	Read Replies (1) \| Respond to of 3262

Hairy, Fidelity had similar problems with their web servers on Monday, however I have confidence that they will fix the problem asap. I believe that this experience has been a wake-up call for the entire industry about the need for excess capacity. I spoke with an ETRADE official today who told me that they processed over 50K trades on Monday. Even at the minimum price of $15 for NYSE trades, that comes to $750,000 revenue for a single day's trading. Since NASDAQ trades cost $20, the total was probably closer to $1M. If everyone who wanted to had been able to get through, they probably would have made enough extra in that single day to gold plate their computer systems. The lesson is that investments in extra capacity will pay for themselves. Helloooo, is anybody listening??