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

To: Barney who wrote (3388)	3/13/1998 11:37:00 AM
From: steve goldman	Respond to of 12617

Limitations are company specific and I am not sure how each of the address this but, if I didnt have all of the below at my fingertips for myself and clients, sitting at my trading desk, I would want: 1. Right to determine, through own decision, or with help of trader, which NASDAQ execution system to use, ie. soes, snet, phone based. 2. Phone based executions on NASDAQ. 3. While I dont recommend firms that nondiscriminatorily route order flow, there are times when firms might have agreements with mm's that can actually be a huge benefit to the customer that would give firm an execution system with speed like soes, no soes exposures or quantity or time limit and without touching the market if more is to come. I could go into this in greater detail if someone wants. Its the nondiscriminitorily route I am concerned with. the clients best interests must come first. 4. Access to nyse floor via superdot & floor brokers. Same with AMEx, electronic and floor brokers 5. Options, and RAES and other options autoexec systems as well as floor brokerage. 6. Immediate direct access to the trading desk via. phone or pc, no waiting what soever. 7. A firm that does not trade against you. There are very few firms that do what we do. Infact, someone up here posted that only us and PTDiscounter still transacted this business. Look, making 1/4 on 1000 shares of a customer order beats any commission, $9, $25, or $75, so for that reason, most firms go via. market making, principal or nondiscrimintorily routing to such firms. Given that very few do what we do, there are only two groups then within that subgroup...the phone based, contact the desk in one ring, Yamner (i dont think ANYONE else still does this,as far as iknow, and electronic /online group. There are benefits to a firm such as ours like getting to know the traders, ideas, market guidance, constant attnetion to the order, while you can do your job, or start watching another stock, etc. or in the case of online, like MBTrading, electronic routing and fast executions. Both I think are excellent services that are offered for the more saavy trader, it just depends on what you are looking for, what you need and how often you trade. The Egroups and Etrades and Eshwabs, they offer value, but its not in the form of quality executions. Regards, Steve