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

To: William W. Dwyer, Jr. who wrote (2048)	3/15/1999 10:41:00 PM
From: Jay Fisk	Read Replies (1) \| Respond to of 3216

Bill, I included DLJ in the food-chain from memory, doesn't Penson clear through DLJ ?? I assumed (in error) that the short list was a no-short list, if it is in fact a brief "ok-to-short" list it might be internally generated as a sum of the long positions held by Penson. Hmmm. As I favor obscure, briefly hyped and illuminated issues, the issue of availability is of major importance to me. If that requires a phone call, that's fine. OT > When I first saw Cyber-X I assumed it was for a Palm Pilot ! Jay

To: William W. Dwyer, Jr. who wrote (2048)	3/15/1999 10:56:00 PM
From: Philip R Berber	Read Replies (3) \| Respond to of 3216

Dearl Bill (Frish.)and Bill (Dwyer)!! You are both right !! (I'm on vacation right now and will be brief) CyBerBroker has adopted a very selective approach In the interest of the trader And to try to maintain excellence- in service and systems. Seeking the more active and experienced trader ( We already serve around 500 day traders in around 50 of the leading day trading rooms around the US) With CyBerX, and having increased the infrastructure and size of our operation considerabaly, we will open up the doors a little more widely Our policy is changing such that with CyBerX we will require that you have used at least an online broker before. No other day trading or direct acces, Level II based trading experience is required with CyBerX That's the whole point of CyberX - the easy to use, graphical, intuitive, front end with all of the power and speed and intelligence of CyBerTrader executions at the back end Find out more in the CyBerX Preview at cyber-broker.com As for the short list, much progress has recently been made in that area and I'll leave it to Mark or the Support guys to respond in detail on that PRB

To: William W. Dwyer, Jr. who wrote (2048)	3/18/1999 2:17:00 PM
From: Stryker	Read Replies (2) \| Respond to of 3216

Hello Bill & Jay, Here is how our short list system functions. Pre-market, we receive a short list from Penson Financial Services detailing the availability and amounts of these securities. Currently the list sits at over 3000 issues. During the course of the trading day customers may make requests via the Electronic Communicator to determine the availability of securities not contained in the initial list. In an expanded search for the requested stock, Penson will check with any and all of the broker-dealers with whom they have correspondent relationships to attempt to locate the security. The short list was recently expanded from approx. 1420 stocks to the 3000+..... I hope this information is beneficial to you both. Best Regards MKS