Datek Brokerage $9.95 a trade Message Board

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Non-Tech : Datek Brokerage $9.95 a trade

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To: gbh who wrote (10538)	12/5/1998 4:47:00 PM
From: RockyBalboa	Read Replies (1) of 16892

About benefits? I'll tell you what. Earlier this year when Physio-Control (PHYS) was announced to merge (at $27+) I saw the stock rising pre market from their lower price (<20), found that the ask did not adjust quick enough. I entered an order at $24 for a few 100 pieces. Strange enough, Datek filled it, as far a I remember before 9:30 Trade happened on the Jun 29 1998. After that I sold out at 26+. Later on, I found having a short position of the sell size there. A message "broken trade" appeared. I called them up and they told me: "We had to cancel the trade as the price was wrong and the fill was in error." Ah, in the light of our latest experience they, not knowning the news just filled the trade and found out that the screwed themseves. Sure I had to look for cover and as my sale was good timed I could buy back and avoid an eventual loss. That's about the "benefit" of getting an inhouse fill. C.

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