Dear friends, I was told that SLK and Bear Sterns are big clearing houses that also have a division for trading actiivities (broker)... Can they (clearing houses that also work as brokerage )offer better rates than other firms? Do they have the same power as other brokers? or because they are big clearing houses/brokers, can they give us lower rates? Sorry if I said anything stupid... Thanks in advance. Raphael Aranha