Datek Brokerage $9.95 a trade Message Board

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Non-Tech : Datek Brokerage $9.95 a trade

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To: Mama Bear who wrote (9061)	7/12/1998 1:50:00 PM
From: gbh	of 16892

Barb, Fidelity has the same policy as Discover. I just got off the phone with them. Both of these brokerages sweep all available cash at the end of each day into a Money Market fund. It is actually this fund that you are writing checks against. Hence, margin does not factor into the equation. Since Datek does not do a money market sweep (I think??), this is likely the difference. Of course, Datek may just decide to keep things simple, and allow checks only against the real cash balance. Given their accounting glitches, this would be enough for me. Gary

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