I have accounts at Schwab and Fidelity...Yeah, expensive but I like to talk to someone on the phone (within 5-10 minutes) with a good explanation when necessary. So when Fidelity (or Schwab) uses the above phrase...What does this mean? Did my bid/ask go to the open market? And what does it mean when my broker says they acted as "The market maker"? Thanks...
What does "We Have Acted as Agent" mean?
- Thread starter Cabin111
- Start date
Robert Morse
Sponsor
Act as Agent = They executed the order on your behalf with another party.
Act as Principal (MM) = They executed the order internally with your broker as the counter party,
Only took me 4 min to respond and you are not my client.
Act as Principal (MM) = They executed the order internally with your broker as the counter party,
Only took me 4 min to respond and you are not my client.
Thanks Robert. But when it's Christmas Eve at 11 pm Pacific time and for some reason the market in China will not open will you take my call?? I know I pay more for services and I am willing to do that. Don't always want to bug the two brokers. I save it for more important stuff...Like why does Schwab Bank pay me .04% in my sweep money??
Robert Morse
Sponsor
No. That is 2am ET on a holiday and markets are closed. Not sure exactly what you expect them to do for you at that time. We are not a bank. Support is available from about midnight to 8pm each working day NY time. I respond to emails 7 days a week while I'm awake for my clients-when I can. I'm not trade support. I'm the sales rep for my clients. We look to provide services for active trader - both retail and institutional - that are looking for fast access to US listed Equities/options/futures using a choose of third party software.
We do not try to do everything for everyone. No one does everything well.
Yeah, but you do a *lot* of things, and pretty damn well, and we all appreciate your knowledge and civility on ET. So there.
Robert Morse
Sponsor
OK...you can call me on holidays,Yeah, but you do a *lot* of things, and pretty damn well, and we all appreciate your knowledge and civility on ET. So there.
