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To: HG who wrote (46054)3/16/1999 7:17:00 PM
From: Sarmad Y. Hermiz  Respond to of 164684
 
There is a company named Knight-something that is owned jointly by several brokerage firms that fills a large amount of net stocks and options. I don't think Schwab has their own operation. They don't need it. They get a kick back called "payment for order flow". They probably make more money from that than from your commission.



To: HG who wrote (46054)3/16/1999 7:24:00 PM
From: Sarmad Y. Hermiz  Read Replies (2) | Respond to of 164684
 
Happy,

You may want to use this in future. Schwab has a feature of placing a condition on a trade called "Fill or Kill". It means: if my order does not fill right away, cancel it.