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Non-Tech : Datek Brokerage $9.95 a trade
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To: Len who wrote (10628)12/16/1998 9:24:00 PM
From: Esteban   of 16892
 
It is my understanding that market orders at Datek are broadcast on Selectnet only

I've never heard this. Wouldn't they have to preference a MM on the inside market if Selectnet or Island is not there? It's pure speculation where the market order black hole actually is, but if the order goes to selectnet and there are no shares to fill it there, would they just sit in the background until selectnet is on the inside market?

Puzzling.
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