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I have not seen this come by and I sent it quite a
while ago.
I think it is particularly pertinent at this juncture.
By the way, Schwab is functioning fine today.
Maybe all they need is more servers.
Clyde
Message-ID: <345747FA.8D6EF511@xxxxxxx>
Date: Wed, 29 Oct 1997 08:28:10 -0600
From: Clyde Lee <clydelee@xxxxxxx>
Organization: SYTECH Corporation
X-Mailer: Mozilla 4.03 [en] (Win95; U)
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To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: GEN - Comparison of Brokers Study
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Maybe this link has been reported and I just did not see it.
<P>This comparison was dated 10/12. I would love to see
<BR>what was said after yesterday!
<BR>
<BR>
<P> http://www.astro.lsa.umich.edu/users/philf/www/discount.html
<BR>
<P>C. Lee
<BR>
<P>Since there has been much comment on "price improvement" and you don't
go to the
<BR>site above, this is a quote.
<P><FONT SIZE=-1>PRICE IMPROVEMENT is the attempt by brokers to get you
better than the asked price if you buy, better than the bid price if</FONT>
<BR><FONT SIZE=-1>you sell, and better than the limit price on limit orders.
The following brokers CLAIM to offer price improvement automatically:</FONT>
<BR><FONT SIZE=-1>Accutrade, Aufhauser, E-Broker, Ceres, Datek, E-Trade,
Jack White, National Discount, Net Investor, Pacific, Regal, Schwab,</FONT>
<BR><FONT SIZE=-1>and Waterhouse. Said to offer it on request are Muriel
Siebert, Stockcross, Brown, Fidelity, Lombard (for a fee), Olde, and Quick</FONT>
<BR><FONT SIZE=-1>& Reilly. There is controversy, and contradictory
information, about price improvement, who offers it, whether they actually
give</FONT>
<BR><FONT SIZE=-1>it to you, etc. At all of the firms who claim to offer
it, some customers say they don't get it. In 1997, Nasdaq will phase in</FONT>
<BR><FONT SIZE=-1>mandatory price improvement gradually. Until the smoke
clears, customers have to do their own investigations of their own</FONT>
<BR><FONT SIZE=-1>brokers, who use different systems and different ordering
methods to achieve price improvement - if they do anything at all.</FONT>
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