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Non-Tech : Market Makers - What They Do and How They Do It -- Ignore unavailable to you. Want to Upgrade?

To: Steve Warkentin who wrote (175)	2/25/1999 10:31:00 AM
From: KFE	Read Replies (1) \| Respond to of 429

Steve, <<Of all the discount brokers out there, who in your opinion gives the best fill on each exchange? >> Can't speak form personal experience...have only been trading actively via the Net a short time and have been using Schwab. Pleasantly surprised on limit orders and option orders that have to be worked but will try other firms to test their executions. Reading the threads for discount brokers on SI does not give a pretty picture. There are many more execution options then when I was an active trader so a firm which will use all these systems to get you the best price is the one to look for. I doubt the super discounters can do this for the commissions they charge. Listed stocks... specialist system so fills should not vary except for speed of entry and ability to check alternate markets for better price. OTC- almost all get paid for order flow.If you trade between the bid/asked then mandatory that you see your trade reflected. This doesn't seem to be the case many times judging by the posts on SI and is a rules violation. Never enter market order. Options...no order flow payment but market maker system...floor broker at firm must work order. Schwab has been very good here. Never enter market order. Sorry I could not help with specific firms but I am in process of trying to find out the answer to your question myself. Good Luck Ken