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To: steve goldman who wrote (3926)12/3/1998 4:54:00 PM
From: TFF  Read Replies (1) | Respond to of 4969
 
ALL Please Read:Fight The Power! -Your Broker Just Screwed U - Now What?

Subject 24050

"Fight The Power" is dedicated to the discussion of trade problems/abuses and their resolutions.

*P.S. Please post this link to your favorite SI thread. There is power in numbers!



To: steve goldman who wrote (3926)12/3/1998 7:57:00 PM
From: TFF  Read Replies (1) | Respond to of 4969
 
Steve: I am trying to put together something on the process of an order from start to finish on the NASDAQ at national discount firms.

1)The order is received from client
2)The order is routed for execution via computer to inhouse order desk or to other firm's(sold as order flow) order desk for execution.
3)inhouse/other order desk executes order via computer(ecn's,selectnet,soes)
4)Fill is confirmed via computer to NASDAQ and broker and clearing firm.
6)Clearing firm sends confirm to client

Do I have this right? I doubt that I do;)

If this is process is explained somewhere let me know. THanks!