To: RickT who wrote (1507 ) 2/5/1999 2:36:00 AM From: OFW Read Replies (1) | Respond to of 3262
Here is one email received from ETrade regarding failure: Here is the text of what I emailed to them: Can you please advise as to what you need from us in order to make a claim for losses as a result of the service problems today. I am an active daytrader and suffered substantial losses. Here is their response: E*TRADE Someday, we'll all invest this way ******************************************* Dear (my name inserted), Unfortunately we do not adjust orders that were never placed. if you have a question on a trade that took place let us know and we will look into it. We at E*TRADE would like to apologize for the interruption of electronic trading service that occurred on Wednesday. As a pioneer and innovator in online investing, we continue to be committed to the goal of being the leader in electronic personal financial services. The service interruption that occurred was specific to the trading function. During the interruption, customers temporarily could not enter orders through either the trading page on our Web site or the Company's interactive voice recognition system. Customers, members, and visitors continued to be able to access other content areas of the site, including news, quotes and charts. The interruption was not volume or capacity-related. Rather, it was caused by a software change which was made Tuesday night and which malfunctioned after the opening of trading on Wednesday. Throughout this time, E*TRADE customer service associates and brokers continued to assist customers with their accounts, although we realize that some of you may have been unable to get through due to the heavy volume of calls during this period. At E*TRADE, we always strive to enhance the quality of the products and services we deliver to our customers. We have built one of the most advanced and reliable technology, service and support infrastructures in our industry. We know, as most of you know, that technology is imperfect. That does not, however, deter us from our commitment to being the best. There are many specific actions we have already taken to realize our long-term vision: Nearing completion this month of our newest, state-of-the-art technology and customer service center near Atlanta, some 6 months ahead of the original schedule, to meet increased demand for our services. Tripling our server capacity to ensure we maintain our goal of 75 percent excess capacity. Expanding the self-service capabilities of E*STATION, our 24-hour online customer service center. Rolling out semi-weekly Customer Service Electronic Town Hall meetings led by members of our Service Quality team. Creating immediate access to our Web site tour for new customers to quickly introduce them to the dynamic tools and rich content we offer on our site. Expanding our customer service team to handle the increased volume of customer inquiries. These, as well as many other actions, represent our ongoing commitment to meeting the needs of our most important asset, you, our customers. Still this does not excuse the inconvenience you may have experienced on Wednesday. We thank you for your continued support. We will work with diligence to deliver the service you expect and deserve. Sincerely, Mark Jimenez E*TRADE Customer Service -------------------------------------------------- Case #: (case number inserted)