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Non-Tech : Datek Brokerage $9.95 a trade
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To: Jon Normile who wrote (7686)4/2/1998 2:53:00 PM
From: Gorak Shep   of 16892
 
Jon Normile, thanks for listening to your customers and modifying your stance on short sale interest calculations. Would you please give an example of the new calculation so that we can have a precise understanding. My first thought was that you would do what many other brokerages do and that is adjust Real Cash Balance by the difference between marked-to-market value and the original short value. On rereading your post, it seems more like you will deduct the full marked-to-market value of the short position which is better than before but not what many others do. An example would clarify this.

Thanks.
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