|To: muleskinner who wrote (3609)||9/7/1998 3:01:00 PM|
|From: steve goldman||Read Replies (2) | Respond to of 4969|
$35 for first 1000. $5 for each 1000 thereafter. As well, when we get price improvements we charge upto 2 cents max on the ticket...ie..upto 1/4 improvement is 1 cent, 1/4 or more is 2 cents...|
If we get you 3/8 above your limit on 500 shares, we charge you an extra 2cents or ten dollars. But the 3/8 is far, far greater than the 2 cents, one of the best investments you could possibly make.
The "Commission" is higher but the net is much in your favor, essentially creating a commissionless trade when improvement is realized, depending on size.
No improvement, no 1 or 2 cents. Flat $35. As well, note that a great exectuion doesnt always result in a per se improvement. Buy Dell in a flying market, and not having the client payup 1/2 but gettting it at current offer is NO IMPROVEMENT, but clearly the 1/2 more he might have paid elsewhere and didnt pay here, has value. Though, no charge for that...thats the $35.
Quality costs...we offer the industry's highest quality executions at deep discount commissions, but not at what the direct entry firms offer. We arent a direct entry. We are more suited for those who are interest in picking and timing stocks and leaving the execution side to an agency-only firm well suited to do the job well.
You can view Gary Smiths' article, where he claimed us his choice for the active trader, by visiting the links on our Firm Approach page on our website...
Perhaps its my fault, but we should definately direct some of the commercial aspects of what I do to private messaging or direct email to me at email@example.com.