To: Rajiv who wrote (15929 ) 12/3/1998 6:59:00 PM From: BelowTheCrowd Respond to of 18691
From the Schwab Customer Page today:In response in the recent volatility of some Internet stocks, beginning today December 3, 1998, the maintenance requirements for 22 NASDAQ internet stocks will be changed. The 22 NASDAQ, listed below, will be subject to a 50% maintenance requirement. Margin maintenance requirements are set by the rules and regulations of the New York Stock Exchange, the American Stock Exchange and other regulatory agencies to the jurisdiction of which we are subject; and according to our sole discretion and judgment. Margin maintenance requirements may change without prior notice. Trades in these stocks should be placed with the new requirement in mind. The NASDAQ stocks subject to the new maintenance requirement of 50% are as follows: AMZN Amazon.com BAMM Books-A-Million BCST Broadcast.Com BYND Software.Net CDNW CD Now CMGI CMG Information CNCX Concentric Networks COOL Cyberian Outpost DRIV Digital River EBAY eBAY ELNK Earthlink Networks EWBX Earthweb GCTY Geocities GNET Go2net ITVU Intervu KTEL K-tel MSPG Mindspring OMKT Open Market ONSL OnSale TFSM 24/7 Media TGLO theglobe.com YHOO Yahoo Orders for Ticketmaster Online (TMCS) and Ubid Inc. (UBID) may not be placed through our WEB site. These securities have been removed from electronic trading due to expected volatility and fast-market conditions when they begin trading. Volatility and Fast-market conditions could result in price quotes significantly different from the current trading price and cause delays in reports of order execution. Ticketmaster Online (TMCS) has begun trading today, December 3, 1998. A firm date as to when Ubid Inc. (UBID) might come to the marketplace has not been determined, although it is expected this week. Please do not attempt to change or cancel market or market-type orders. This is very important as duplicate orders could be executed and will be your responsibility. If you attempt to change or cancel a market or market-type order, we can only process the request on a best-efforts basis. A strategy to consider is to place a limit order and establish a buy price at the maximum you are willing to pay or a sale price at the lowest you are willing to receive. This can reduce the risk of placing a duplicate order and ensure the price you receive is within your limits. Orders that were previously placed before 9:15 ET December 1, 1998 for these two securities through a Schwab Representative on TeleBroker which received a confirmation number or on the Web which received a confirmation number do not need to be re-entered and will appear on Order Status. It is very important that you not re-enter these orders as duplicate orders will be your responsibility.