Originally Posted by
blackcap
Fair enough.
What I am not happy about with DB is the amount of time it takes to get the order to market. And there are no excuses for that whatsoever.
When I used to work for DB as a broker (long time ago now) when an order came in you were supposed to get it to market within 30 seconds. See the order, check if there are other DB orders it could be matched with, if so, do the match, if not, execute the order on screen.
I am guessing that since most FNZC orders will not be on the screen to start with it can be a complicated mess asking all the other brokers "do you have a buyer for xxx" or does anyone have a seller for "xxx". Especially if said broker is out to lunch or on a call.
At DB we did have institutional brokers but they usually told us what they were looking for to buy or sell so you had a pretty good idea of what could be in house matched. Sometimes I did put something on the screen (executed a trade) to have a broker angrily come and say "i had a client who wanted those" but generally it worked fine.