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Non-Tech : Waterhouse Securities -- Ignore unavailable to you. Want to Upgrade?

To: Dave Hanson who wrote (779)	11/17/1998 4:37:00 PM
From: Dan Swartzendruber	Read Replies (1) \| Respond to of 2076

Funny you should mention this. A friend here put in a limit buy 1/16 above the ask. Round lots. It took 15 minutes to get a fill! And he was checking the bid/ask all the while and never saw his offer show up. Weird...

To: Dave Hanson who wrote (779)	11/17/1998 7:23:00 PM
From: dumbmoney	Read Replies (1) \| Respond to of 2076

My understanding was that this was true a year ago, but now anyone with a round lot on any NASDAQ stock should be represented if they have the best bid or ask. Your understanding is correct (the big Nasdaq changes occured January 1997). Waterhouse sends orders to a market maker for processing, and the market maker is required by Nasdaq to represent the order (or forward it to an ECN where it will be represented). None of this applies to OTCBB stocks, which is perhaps the point of confusion for the person with whom you spoke. My personal experience with Waterhouse executions has been pretty good. I've successfully bought at the bid and sold at the ask. But they certainly do bog down terribly from time to time.