Left EDJ..expect the 2 certified letters!
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Whomit:
You sound like you have small man's disease. I'm not sure why you always sound so angry on the boards.
Since you don't understand how FOLIO works, I'll try to give you a quick primer.
Folio has a lot of clients. Most RIA's like me, but also a lot of SMA's and funds run through their platform (like Zack's). Everyday, FOLIO has what is known as "trade windows" at 11am and 2pm. The stocks available for window trading are listed on their website (4000+ and ETFs).
Folio aggregates all the buys and sells for the window stocks and before they're sent to an exchange, they first match all internal buyers and sellers. So if my client wants to buy stock A and another folio client wants to sell stock A, Folio splits the difference of the spread and makes the transaction. So the seller gets more than he would have on the exchange and the buyer pays less. Folio doesn't have to pay any transaction costs. Then folio sends the remaining orders to the market. Any orders sent as "market" orders cost an additional $1.95 or $3.95 depending on the trading volume.
Folio makes its money through the flat fees charged, the additional $1.95 or $3.95 on special orders and also gets paid for "non-directed" orders from some companies. See http://foliofn.com/content/help/routing_report.shtml
Steve Wallman, who founded Folio in 2000 is a former SEC commissioner, so I'm pretty sure they go by the book!
Another thing I love about Folio is you can enter your stock trades in dollar amounts, like mutual funds. Buy $20,000 even of Large Cap folio and don't worry about rounding up or down for round lots...
"I'm not sure why you always sound so angry on the boards."
It's like Harry Truman said when some one yelled "Give 'em hell, Harry." "I don't give em hell, I just tell them the truth and it feels like hell to them!"
" So if my client wants to buy stock A and another folio client wants to sell stock A, Folio splits the difference of the spread and makes the transaction." Chug-a-lug, bug!
"Steve Wallman, who founded Folio in 2000 is a former SEC commissioner, so I'm pretty sure they go by the book!"
Weddell, Wallman... they're all heroes, 'till they aren't.
I didn't say anything was not "by the book" the "book" is subject to interpretation, however. This is a fact borne out each and every Sunday, if you can catch my drift.
If you'll believe that that company is in the business for 20 beeps you'll believe anything. Which, apparently, you will.
Since you don't understand how FOLIO works, I'll try to give you a quick primer.
Very interesting.!! Thanks for the explanation.
Oh my God! Did I make a spelling error? I guess that means that everything I said was wrong too.
You just keep telling yourself that.
I said nothing about the substance of your post. I just find it humorous that you are telling other people they are dumb while you spell business wrong twice. Funny to me.
And so, in the interest of intellectual perfection you chose to ignore the salient point.
That's proof positive of the previous assumption.