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

To: funk who wrote (3140)	1/7/1999 9:22:00 AM
From: gbh	Read Replies (1) \| Respond to of 7382

Not sure if this has been posted here: January 7, 1999 ETrade Is in Talks to Purchase Large Stake of a Trading System By a WALL STREET JOURNAL Staff Reporter PALO ALTO, Calif. -- In a bid to grab a piece of the growing market of off-exchange securities trading, ETrade Group Inc. is in talks to take a significant stake in closely held Archipelago LLC, a Chicago electronic-trading system, people close to the negotiations say. ETrade, the No. 2 online brokerage firm in terms of market share, could announce the investment as early as Thursday, these people say. Archipelago, now owned by Terra Nova Trading LLC and software firm Townsend Analytics Ltd., electronically matches customer-trade orders away from traditional stock exchanges and acts as a type of Nasdaq broker-dealer. In theory, buying a piece of such an electronic-communications network "would be an extremely shrewd move for ETrade," said James Marks, an analyst at Deutsche Bank Securities. ETrade could make money by routing many of its customer orders to Archipelago, he said. As of November, Archipelago was the fifth-largest ECN in terms of share volume on the Nasdaq Stock Market, according to figures posted on the Nasdaq Web site. More significant, Archipelago could soon become its own stock exchange. Gerald Putnam, the firm's president, said in a recent interview that he intends to ask the Securities and Exchange Commission to regulate Archipelago as a full-fledged exchange, instead of a broker-dealer. The SEC approved new rules a month ago that will eventually allow ECNs to become self-regulated exchanges. That status would allow them to make money from selling their own stock-quote data and open the door to trading New York Stock Exchange-listed stocks, in addition to Nasdaq issues. Mr. Putnam didn't return calls seeking comment. An ETrade official declined to comment.

To: funk who wrote (3140)	1/16/1999 7:36:00 AM
From: CynicalTruth	Read Replies (1) \| Respond to of 7382

OK Funk... update on $5 commission promo. Matt has been trying to get it straightened out. He credited my account for the overcharge. Great... but wait. My last trade I was again charged full commissions but only on the sell. What next?? <gg> I'll tell you... My account balance still doesn't match my books. I don't need to tell you which way it is off <g>. Sent him another email... waiting to hear back. So what's a person to do Funk? Am I the only one having this much trouble with the accounting procedures at MB? Let me know what you find out <g>....