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Non-Tech : Datek Brokerage $9.95 a trade
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To: Fred Puppet who wrote (2517)5/7/1997 11:25:00 AM
From: Joel Goldberg   of 16892
 
Oh, so that was YOU who stuck me with those 1999 shares???? (Just kidding...)

Seriously, I suspect all regular Datek traders have had that kind of partial fill, occasionally with odd lots, and re-entered orders that went to the back of the line, perhaps not getting executed because of this. Here are some possible fixes, in my order of preference:

(1) Orders that are re-entered after partial fills maintain their priority.

(2) Allow entry of all/none orders (i.e. customer can elect to not accept partial fills, at the risk of a lower likelihood of execution).

(3) Restrict odd-lot fills to other odd-lot orders.

(4) Eliminate odd-lots entirely.
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