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

To: steve goldman who wrote (1706)	12/10/1997 9:55:00 AM
From: dennisp	Read Replies (1) \| Respond to of 12617

How does Eschwab hold up under all of that Steve? D

To: steve goldman who wrote (1706)	12/10/1997 12:40:00 PM
From: Matthew B.	Read Replies (1) \| Respond to of 12617

What kind of $ difference in order fills are we talking about here between a company which sells order flow and one which doesn't? If I wanted to buy a stock at 30, what would be the slip? If I were to buy an option at 3, what would be the slip? Thanks. Matthew

To: steve goldman who wrote (1706)	12/10/1997 7:23:00 PM
From: Orhan Birol	Respond to of 12617

Steve, Where I work, 80% of the orders are routed to PACE Philadelphia exchange which works completely to my customers' advantage: The system, I shortly discovered is based on the # of shares traded on the NYSE. Suppose you want to buy 500 shares IBM 106-106 1/16, 100M by 100M. If the order to buy @106 (at the bid)goes to the NYSE 100M ahead, if it goes to the PACE where my shop sends it to, all you need is 1000 to trade in the NYSE and you are entitled to an execution although the bid is 100M. Now I am sure most of the brokers in my firm are not aware of this rule, and they would enter their buy orders on the offer side of the market. I have taken advantage of this system for 10 years and saved my a/c's a fortune. The catch is; this rule applies up to 500 shares. As all commissions incurred in one stock in one day is cumulative-the order can be broken into 500 share lots-of course within bounds-2 lots of 500 shares. As to OTC, as I enter my orders from my terminal at home and always in the middle-between the bid and ask in 1000 share increments, my orders goes from my terminal straight to the mm computers, and I can see the qute change in a second and get executed immediately. I am curious to know whether other firms have the same system in PACE executions and if they do, I wonder how many brokers are aware of the advantage I noted above. Good trading, Orhan e