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Non-Tech : E.Schwab problems -- Ignore unavailable to you. Want to Upgrade?

To: Joe Master who wrote (123)	4/11/1998 3:15:00 AM
From: upanddown	Respond to of 1401

Did anyone else get a letter from Schwab last week offering free access to Schwab 500 service ? Looks like additional research and also stock screening. Is anyone familiar with this service and can give me an understanding of it value, if any ? It also gives numbers to call for help (Schwab Online Service Team). Might come in handy on some crazy trading day. John

To: Joe Master who wrote (123)	4/13/1998 1:53:00 AM
From: avenger	Read Replies (3) \| Respond to of 1401

Something is missing here. Schwab normally has very fast fills, in my experience. Give us some more details. Did you place the trade before the open? If so, was it on a listed stock(3 letters or less in the symbol, trades on the floor of an exchange). If it was a listed stock, if there is news out on the stock pre-open, there is usually a delay in the open of a stock. About a week ago it took CPQ about 15 minutes to open. You mentioned Mayer, though, so I am assuming it is a Nasdaq stock. Was this Nasdaq stock in a "fast market"? If so, order fills will be somewhat delayed(although it shouldn't be 20 minutes). At Schwab, they can check on this info if you ask them. Call them back and ask if the stock was in a fast market or not, and what the "ask" quote was when you sent the order. This info will tell you whether you actually did get the shaft. One other thing that can delay your order is if you are buying or selling over a certain number of shares. If it is over 1,000 shares, executions will probably be a little slower. Also, it wasn't a bulletin board penny stock, was it. Don't get me started again on discussing those. Look at my other posts if you want info on BB's.

To: Joe Master who wrote (123)	4/14/1998 12:04:00 AM
From: Randall Thomas	Read Replies (1) \| Respond to of 1401

<<Their customer service folks told me this was normal processing for a stock they dont make a market in at Mayer. Does this sound like BS to anyone else out there?>> 20 minutes is absurd, but Schwab has NO other relationship with wholesalers besides Mayer, meaning every single OTC trade goes to them regardless, so my general rule is to never ever give mayer an agency trade....do the trade somewhere else before letting some retail trader at another firm scalp your order. I have never heard of Schwab fixing a fill, despite the fact that we are paying THEM for executing our order, as opposed to them buying order flow from correspondents. Pitiful.