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

To: funk who wrote (3040)	1/4/1999 8:25:00 PM
From: funk	Read Replies (1) \| Respond to of 7382

I have been getting lots of questions in PMs. Here is an excerpt from one and my response. I have sent off for applications to ABWatley, printed out forms from MBTrading, and filled out an application with Remote Trading Int.. I know from your postings that you are fond of and endorse/use MB. My questions about MB are these: Are you concerned at all about Southwest Securities? Do you think customer service is A-1 to every Joe 6pack trader or do you get preferential treatment? Does MB have check writing? ABW had a reputation concerning reliability and customer service. I think they have improved a lot thanks to MBT doing a great job. Just as JPR's cut rate commissions helped us get a lower commission rate at MBT. So competition is a good thing. As far as Southwest goes, they have been around a very long time. There has been occasions where SW has failed to "run the tape" in time to update everyone's buying power for the market open. It got bad enough that MBT created a completely redundant system that does this work when SW funks it up. The best way to get "treatment" is to not be too shy to ask questions and take care of yourself. Sure those guys appreciate that I try and stick up for them on Silicon Investor, but I think, I am treated no differently than any other client. I do not know about check writing, please let me know what you find out. I am high on MBT because of their technical ability and their attitude towards business. I am a firm believer in getting what you pay for. The little bit more I pay in commissions is helping build a very strong infrastructure both in equipment and staff. I know MBT is the best, but we have to agree that not every one likes their coffee black or with cream, so not everyone will have the same experience. That would be impossible. I am betting that MBT will be around for many years. I am also betting some outfits will dry up and blow away or get folded into stronger brokers. It all boils down to the people for me, you can get the same software and execution systems from other brokerages, but you won't have these people backing you up. Look at phactor.com That's Phil's web site, an MBT staffer. These are the guys you want working for you. The fact that the chat room is open to the public every trading day, proves beyond a doubt that these guys have nothing to hide at all. The transparency offered via the chat room is a indicative of the quality of service they provide. Think about it! The chat room gives you constant instant access to the MBT staff. You need to see if they can get a borrow on a stock that's not on the big list? The chat room works great. A quick question about why the prints don't seem to jibe with the level II window, perfect way to ask. Not all traders have a free phone line all day for calling up with non-urgent questions. Other traders may ask a question you may never have thought of, but when you see it in the chat room you are glad to see the answer too. Where else can you get this level of service? Also, the $5 trades are pretty cool, imo. A friend of mine (yes I do have one left) is getting started with MBT this month. The $5 trades are perfect for him to get through the learning curve. Trading is loads of fun, but only if you get the right tools and have confidence in them. You must, in my opinion, feel as if your broker is your partner. You may find another broker that is almost as good, or equally well equipped in some ways, but you will not find a better all around package, imo. Keep in mind MBT is a lot different than it was 12 months ago; many niceties have been added and I fully expect many more in 1999 as well. Don't take my word for anything, dig, dig, dig and find out as much as you can by calling all your prospective brokerages and see what you can learn that way. Talk to Ross or Steve or Phil or Beth or Brenton and chat with one of them for a minute or two., if you still are not satisfied, take your business else ware. Good luck with everything. funk ps, I do not mind answering questions at all. I ask plenty myself. I would prefer posting in public so that others, who may be thinking of similar things, can (if they choose) read this stuff too. I hope you don't mind.

To: funk who wrote (3040)	1/7/1999 8:52:00 AM
From: CynicalTruth	Read Replies (1) \| Respond to of 7382

Regarding $5 commission rate.... I signed up for this 2 weeks or so ago and am currently being charged full commissions (yes, on 300 shares or less). My account was supposed to be fixed yesterday but it still hasn't been... maybe it's at the bottom of the to-do list. Just talked to them again and "they'll look in to it".....

To: funk who wrote (3040)	1/7/1999 9:06:00 AM
From: funk	Respond to of 7382

WOWOWOWOWWOWOW!!!!! This should be good for all MB Traders: (PR Wires) DJ: Archipelago Announces Agreement to Sell 25 Percent Share DJ: Archipelago Announces Agreement to Sell 25 Percent Shares in Company To Both ETRADE and Goldman Sachs CHICAGO, Jan. 7 /PRNewswire/ -- Archipelago (Nasdaq: TNTO), operator of an established Electronic Communication Network (ECN) for NASDAQ stocks, today announced that ETRADE Group, Inc. (Nasdaq: EGRP), the provider of a leading branded destination Web site for online investors, and The Goldman Sachs Group, L.P., the international investment banking and securities firm, have each agreed to acquire a 25 percent share of the company. No financial details were available. Under the agreement, ETRADE and Goldman Sachs, as well as the founding partners, Virago Enterprises, LLC and Townsend Analytics, Ltd., will each own 25 percent of the voting interest of a new company, Archipelago Holdings, LLC. Created in 1997, Archipelago is one of 9 ECNs granted permission by the Securities and Exchange Commission (SEC) to allow purchase and sale transactions to be matched electronically outside the exchange trading system. Archipelago currently serves approximately 4,000 individual and institutional traders. As two financial services leaders, ETRADE and Goldman Sachs represent exceptional partners for Archipelago. This agreement will make our network an even more powerful force in the ECN market, said Jerry Putnam, President of Terra Nova Trading and one of the founding partners of Archipelago. Since the Securities and Exchange Commission (SEC) passed regulatory changes to allow alternative trading systems in 1996, ECNs have played a growing role in the equities trading market. ECNs currently account for some 25 to 30 percent of the share volume for NASDAQ stocks. ECNs allow orders to be directly routed and displayed on the floor of an exchange or the NASDAQ Stock Market without the need for an intermediary, and assuring order anonymity. ECNs are clearly a significant and growing segment of todays financial services market, said Duncan L. Niederauer, a managing director at Goldman Sachs. Our investment in Archipelago demonstrates Goldman Sachs continued commitment to provide our clients with the broadest array of liquidity services. With ETRADE and Goldman Sachs as major partners in this enterprise, Archipelago has the opportunity to establish itself as the premier ECN serving both the retail and institutional markets, Christos M. Cotsakos, Chief Executive Officer and Chairman-Elect of ETRADE. The Archipelago trading system provides tremendous benefits to its users. We intend to aggressively market that value proposition in order to grow its ECN market share. We want Archipelago to win wide recognition as the reliable and trusted solution for alternative trading systems. Archipelago has an exclusive agreement with Townsend Analytics, Ltd., for use of Townsends proprietary Book Server software, which enables ECN order matching and preferencing, for the purpose of trading U.S. equities and a nonexclusive agreement for purposes of trading other financial instruments. In addition, Archipelago has a licensing agreement with Townsend Analytics to distribute RealTick and RealTrade front-end software for active individual and institutional traders under the Archipelago label. Based in Chicago, Archipelago LLC will be operated as a stand-alone company. Its current management and technology development team will remain in place and no personnel reductions are planned. About ETRADE A leading branded provider of online investing services, ETRADE has established a popular destination Web site for self-directed investors. The company offers independent investors the convenience and control of automated stock, options and mutual funds order placement at low commission rates. In addition, ETRADE has a suite of value-added products and services that can be personalized, including portfolio tracking, Java-based charting and quote applications, real-time stock quotes, Smart Alerts, market commentary and analysis, news, investor community areas and other information services. ETRADE was ranked the number one overall online brokerage service in two consecutive quarterly reviews conducted by Gomez Advisors, a leading independent authority devoted to online financial services (Q3/Q4 1998). In October, the ETRADE Web site was named the number one online investing site in an international survey of the industrys top twenty Internet brokerage firms by Lafferty Information and Research Group, a global provider of high-value and business information research. Customers can access ETRADE at etrade.com on the Internet and through many other electronic channels and online services (AOL Keyword: ETRADE). ETRADE Securities Inc., and its parent company, E*TRADE Group Inc., are headquartered in Palo Alto, Calif. About Goldman Sachs The Goldman Sachs Group, L.P. is a leading international investment banking and securities firm, providing a full range of investing, advisory and financing services to corporations, governments, institutions and substantial individuals worldwide. Founded in 1869, it is one of the oldest and largest investment banking firms. Goldman Sachs is headquartered in New York and has 40 offices in 23 countries around the globe. About Virago Enterprises, LLC Virago Enterprises, LLC is an online broker catering to investors with active trading accounts. Founded in 1994, Virago has 4,000 customers who route electronic orders over the Internet and private networks. Virago has its principal offices in Chicago and operates 12 branch offices located throughout the United States. About Townsend Analytics, Ltd. Townsend Analytics is a leading provider of comprehensive quote display, charting and order entry applications for the active trader. Townsend Analytics was founded in 1987 and is owned by Stuart and MarrGwen Townsend. Townsend Analytics is headquartered in Chicago and has approximately 50 employees. /CONTACT: Sam Long or Larry Hill, both of Archipelago, 312-960-1316; or Susan Walker of Neale-May & Partners, 650-328-5555, ext. 119, or swalker@nealemay.com, for Goldman Sachs Group, L.P./ 08:20 ES .SPR X.GMS EGRP I/SCR N/PR N/PREL N/TNM M/FIN P/DIS R/NME R/NY R/US R/USE R/CA R/PRM R/USW ______________________________________________________________________