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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TFF who wrote (5305)9/22/1998 10:35:00 PM
From: peter michaelson  Read Replies (1) of 12617
 
irby:

I thought Datek DID sell order flow?

There has been a good bit of heated discussion on that topic on the Datek thread. Datek used to post on their website that they do not sell order flow, but when people are dissatisfied with Datek's service they get skeptical of the claims and hypothesize that Datek trades against their customers or re-directs flow.

In any case, my executions have been great and it is certain that Datek uses Island exclusively or almost exclusively for NADAQ orders. They also used to post that orders go directly to the specialists for ASE and NYSE orders - presumably Superdot. I'll see if I can find this info on their website anew.

On Yamner, I probably should test drive their service, but I happen to hate using the phone - didn't even trade actively until web trading became effective.

Plus, the higher Yamner commissions would have a noticeable effect on my gains on 500 postions taken and left at an average $10,000 per transaction. Difference of $20 per trade * 1000 = $20,000 = about 10% of my target annual income.

Datek is cheap, no frills, effective, efficient and dependable, in my judgment. It's having a computer for a broker.

peter
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