To: Rick Faurot who wrote (4749 ) 5/29/1999 11:50:00 AM From: Rick Faurot Respond to
As a participant in MBT's chat room, I have had occasion to see people come in with complaints or questions about trades that did or didn't go off as they had hoped. They may have thought they should have gotten a fill when others went off at their price, or whatever. These questions occur every day at every brokerage. What is amazing is the speed with which MBT deals with these problems or complaints. They immediately take all the facts, time of entry, etc. They go directly to Nasdaq and or marketmakers to check out the facts and if a discrepancy is found, MBT will take a complaint to Nasdaq or make any other adjustment that is appropriate. Other brokers do their best in this type of situation. Considering that Nasdaq is trading a billion shares a day in recent months, it is no surprise that executions are not perfect. Island has the same kind of problems on occasion and I would guess the other ECNs do too. The system's not perfect. That's why a trader needs a good support staff to help them work out trades that they aren't satisfied with. Nobody does it better than MBT IMO, and I have been with two other brokers previously so I have a little experience. The bottom line with MBT is that if a trader brings a problem to them, the trader invariably goes away smiling within MINUTES, sometimes even seconds. Traders who fail to contact MBT over trades they are dissatisfied with are not going to get much help. I would be very interested to see some hard facts which purport to show that there are MBT traders who have had unsuccessful trades and then claim that MBT did nothing to help them. Doubt they exist, but if they do, let's see facts, not "imaginary" PMs.
