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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: brad heffler who wrote (4072)	1/14/1999 4:28:00 PM
From: steve goldman	Read Replies (1) \| Respond to of 4969

Its an ugly trade, but the rule is: you are obligated to take what happens not what they report. They mess up the reporting, you act on it, it doesnt matter...its not what is reported, but what occurred. You should have known that you were filled when the stock went lower. Different firms treat errors differently. I cant speak for them. I can speak for Yamner. We make errors. They occur. We stand by doing what was right. In that case, I would have eaten the error since you did everything you possibly could to verify the trade and were given a specific answer, that you were 'out'. I dont think you can win it. They are a different kind of firm. Regards, Steve@yamner.com

To: brad heffler who wrote (4072)	1/14/1999 9:27:00 PM
From: Monty Lenard	Read Replies (1) \| Respond to of 4969

Hi Brad, "For 5 hours, I tried to confirm my purchase." Let me tell you a story about Yamner yesterday. I called to buy one that was 9/16 bid 11/16 ask. I am on the phone with Steve. After a few seconds he says he doesn't have a confirm yet (I think NYSE was having a problem with Super Dot) but Steve says he knows he has me at 11/16 and can maybe get me in at 5/8. I know they are busy and it was one I was planning on holding overnite at least so I tell him just to email or ICQ me a message when they know the exact price. Anyway, a little while later I get a phone call from Yamner to tell me that the email had been kicked back to them for some reason but that I was in at 5/8. Now how is that? Not only do I get email sent but I get a phone call on that kind of day to tell me the email came back and to confirm my order! You know why I hung up without a confirm? I was not worried about it because Steve said he could get me at 11/16 worst case. I had no doubt in my mind that I was in (worst case) 11/16 and if I had wanted to sell it 10 minutes later I have no doubt that I could have because that is the kind of people you are dealing with at Yamner. I TRUST THEM! FWIW Monty