eTrade 2007 Annual Report Download - page 201

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Understand how regional exchanges affect the guarantee
Some regional exchanges require a manual review of any order for a listed stock that would represent a new intraday high or low.
These orders are not eligible for the guarantee.
Note:
Should this happen to your order, we’ll send a message to your account before market open of the next trading day.
Know how system interruptions affect the guarantee
Should a communications, network, or other system interruption temporarily disrupt the receipt, execution, or transmission of orders,
the orders that are live during that time period will not be eligible for the 2-Second Execution Guarantee.
Note:
Should this happen to your order, we’ll send a message to your account before market open of the next trading day.
Know why an order is “under review”
When you place a qualified order that does not execute within 2 seconds, we’ll review it after market close and determine if it’s
eligible for a commission credit.
When one of your orders is reviewed, we will always let you know. Here are a few things to keep in mind:
•
You’ll receive a Smart Alert before market open the next trading day to let you know that an order was reviewed and whether or
not a commission credit was granted (if it wasn’t, we’ll tell you why).
Learn how E*TRADE Securities determines execution time for the guarantee
The length of trade execution is determined from the time we receive your order (not when it is transmitted to us) and the time the
executing market center notifies us of the final fill.
Please keep in mind:
•
If a commission credit was granted, it will post to your account and be available to use immediately (to view your credits, visit
the Execution Guarantee section of the View Orders screen).
•
Any eligible orders you place will have their actual execution times displayed. You’ll be able to view execution times in
execution Smart Alerts, in the Execution Guarantee section of the View Orders screen, and in the Order Details tables (click the
order number at View Orders to get details for a particular order).
•
If your order’s execution time is greater than 2 seconds, the order will be reviewed after market close.
Know if I get a commission credit for a guaranteed execution order
We make it easy for you to find out whether or not you get a commission credit for a particular order.
•
Unless the order is disqualified, you’ll be granted a commission credit before the open of the next market day. Your credit will
be applied automatically to the next qualified order you place.
•
You’ll receive a Smart Alert message before market open of the next trading day if you’ve earned a commission credit for a
qualified order.
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