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Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (2096)	11/21/1998 2:41:00 PM
From: Rick Faurot	Read Replies (1) \| Respond to of 7382

Colin, <<With MBT wouldn't this be basically the same? I'd see Archipelago on Level II with say my 2,000 shares and they d@mn well better execute that 2,000 for my account when I see it on T&S. >> Yes. It would be the same, and ARCA would execute you much the same way that you got executed via NITE with your current broker. If the price was coming to you as you describe and you were alone on the bid, you would fill promptly (maybe ten seconds) providing of course someone wanted to sell them to you. The difference would be you would get a confirmation in your order entry screen about a second or two after you filled. You would see the ARCA order go away off L2, you would see your sale print in TOS, and you'd get the confirmation, all about the same time. Neat, clean, fast. Rick

To: Colin Cody who wrote (2096)	11/21/1998 3:03:00 PM
From: scanshift	Respond to of 7382

Thank you very much for your question. It gave me the idea that does an order that comes into an ECN and then is "crossed" against a "immediate" generated order from a proprietary account of the ECN have to hit the tape? Perhaps there are ways that it does not have to show up on the tape if it is inside the marketmakers quote. Again, thanks for your awesome question, I truly appreciate it. As far as satifaction with online brokers, my advice would be to experiment with different ones. When I was on the floor, I tried different floor brokers until I found a handful who had intergrity and gave consistent service.

To: Colin Cody who wrote (2096)	11/21/1998 6:28:00 PM
From: tom pope	Read Replies (1) \| Respond to of 7382

>>I normally then get a confirmation via WSA's web page within a couple minutes. When I don't get a "confirmation" from time to time, I call my broker, and they find it and confirm verbally to me. With MBT wouldn't this be basically the same?<< No it wouldn't. Confirmation is immediate with MBT. In fact, it's so reliable that often I don't bother checking the order entry screen. When I see the order disappear from the Level II screen, I know it's been filled. If by WSA you mean Wall Street Access, I opened an account briefly (VERY briefly) with them and closed it after 2/3 trades when I didn't even see my order represented on Level II - not just for a minute, but ever. I hold no brief for MBT, and have had runins with them on administrative matters. And their non-support of IRA's in spite of continuing bland assurances that they're working on it just means that I'll move a $200K account away from them. But for trade execution - they're flawless. BTW - MBT's much better than ABW's Watley desk. Whoever sits on that desk must be in the bathroom half the time. Waiting for confirmation that your order has even been entered is like catching a waiter's eye in a crowded restaurant.