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Non-Tech : Web Street Securities (WEBS) -- Ignore unavailable to you. Want to Upgrade?

To: Linda Kaplan who wrote (468)	7/21/1998 5:58:00 PM
From: Doug Coughlan	Read Replies (1) \| Respond to of 1339

I spoke with one of their reps today concerning a problem I was having with the posting of interest too my account. He stated that he was seeing the correct balance in my account. On the other hand I was still seeing my original balance. I was seeing the credit to my account under transaction history, but was surprised to see my account balance drop by $188 on Monday morning. The net result is that not only am I not seeing the interest posted to my original balance but it dropped by $188. I mentioned to him that customers on this thread have experienced similar accounting problems. He stated that there is a computer problem that they are working to rectify. His computer connects directly to US Clearing in NYC and has the correct information. I neglected to ask where the customer is receiving the information on their screen from. He also mentioned that Web Street follows the postings on this thread. To be fair to Web Street and people who read this thread, I have basically had pretty fast fills. Out of eleven trades only once when all firms that deal with US Clearing had a problem was I really burned. Of the other ten trades I have received a price back anywhere between five to ten seconds and five minutes. The five minute confirmation was during fast market conditions. Most of the confirmations are back in under a minute. I would also like to receive the fills back faster since I tend to day trade or more accurately five to ten minute trade.

To: Linda Kaplan who wrote (468)	7/22/1998 6:40:00 AM
From: wlcnyc	Read Replies (2) \| Respond to of 1339

Linda, Here is one of my favorite responses...this was in answer to my question as to why when I entered Limit orders, they were reentered by someone else as Market orders...and a brokers fee of 24.95 was charged (later corrected). Bear in mind I had been entering fractions for almost 5 months and no one had mentioned this before(in fact, quite the contrary). On two occasions my order and their order were both filled leading to an over purchase: "Dear Bill, The problem you are having here is very simple. Stocks trading in fractions should be placed in fractions. Stocks trading in decimals should be placed in decimals. Our web sight does not accept decimals so you must call a broker and we will honor our internet rate. Let me explain the implications of what you are doing. Placing an order for TSIS at 17/32, that's .53125. The stock is trading at .53 offered. By placing the order the way you did the market makers will basically ignore your order. U.S. Clearing will change this because your order is above the market. That's why you see a market order. As you can see we filled it at .53 and saved you .00125. Your original order will stay on the screen even though the other order was entered and executed." Note, when I entered my order, the ask was at .52! As you have said before, talk to three people at Web St and you will get three different answers. I requested an explanation of the above reponse on 7/2, but to date have not received it. Bill