Rick, there is a lot more to all this, I believe.
I speculate that the fact that Datek owns ISLD, *may* have something to do with the kinds of executions traders who do not use Datek, get.
Example: I use Datek a lot (for a variety of reasons) - I trade high volume stocks, which I scalp for 1/4 or 1/2 points. I do get partials, but my order is almost NEVER killed, unless the price has really moved away from my order. So, on a 1000 shares (my usual order size), about 50% of the time, I get executed in full, and about 20% I get it in 2 parts - like 562, 438, another 20% of the time in 3 parts - like 177, 339, 544, and 10% of the time in 4 parts. I cannot recall having gotten executed in more than 5 parts.
I therefore think (speculate, I have no proof), that perhaps Datek customers get some kind of preferencing on their orders? Also note, that you cannot cross/lock an order through Datek. |
