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Non-Tech : The Executioner -- Ignore unavailable to you. Want to Upgrade?

To: Rene Madsen who wrote (3)	6/17/1998 7:32:00 PM
From: Clarence Dodge	Read Replies (1) \| Respond to of 58

Rene >I miss seeing some information about the >financial situation though. I mean, > to trade with a broker one has to >have money on an account there. How would > it work with TE? Will they operate >an account? What is my security as a > consumer in this case? What if they >just take the money and run? There is a brokerage associated with Executioner software which executes trades and administers your account.I don't know much about The Executioner organization but since the SW is a variation of other Real Tick III based systems , such as that provided by AB Watley and MB Trading, the broker is probably Terra Nova Trading which clears thru Southwest Securities. But I don't know this for sure....just an educated guess. Your acount with Terra Nova would be federally insured thru SIPC just like any other account with any other broker. I haven't traded with any of these Level II systems, such as the Executioner, myself, but I'll bet you dollars to donuts its not as easy as its explainations make it sound. You'd be trading against some very savey traders let alone the power MM can wheel around. I've been researching these systems for 3 months now and don't feel any where near comfortable enough to pull the trigger on one of them yet. I would suggest you procede with curiousity and caution. Of course, any of the traders threads here on SI are excellent places to get a feel for what trading with Level II sw is like. Check out exchange2000.com for an excellent list of resources ( if you haven"t already. of course). Happy reading, Clarence

To: Rene Madsen who wrote (3)	8/13/1998 11:21:00 PM
From: George Muniz	Respond to of 58

Hi Rene: I'm George Muniz with The Executioner. I also usually share in your philosophy of "if it sounds to good to be true, it probably is" so I can appreciate your position. However, this is one of those times when our rule does not apply. We happen to have one of the only software systems capable of giving you, the individual trader the ability to post a Bid or Offer electronically. Essentially you are an electronic market maker. What you read is 100% true. For example if a stock is 50 bid by 50 1/4 ask, you have the ability to do what's referred to as going high bid. Meaning that you can bid for this stock at 50 1/8, outbidding any market maker that is currently at 50. By doing this, you have now changed the quote of the stock from 50 by 50 1/4 to 50 1/8 by 50 1/4. If someone is looking to sell, they will sell to you (the highest bidder) at 50 1/8, and you have just purchased stock on the Bid. This is just one of the many benefits of The Executioner. For further info you can access our web site @ www.executioner.com. Regarding your question of account security, your account would be established with Southwest Securities. They are a publicly traded company on the NYSE under the symbol SWS. They will serve as your clearing firm. They provide you with the standard SIPC insurance and an additional $24.5 million in insurance through a division of AIG. If you'd like to do some homework, you can browse their site @ www.swst.com I hope this answers some of your questions and concerns. Thanks, George Muniz