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: Ken Brown who wrote (9780)	9/24/1998 2:27:00 PM
From: Ken Brown	Read Replies (1) of 16892

Datek's 60 sec "guarantee" is BULL $!$#$ Selling xx shares of xx at xx. Tracking#: G-000-AAER-2191 09/23/98 09:58:15 Executed: Sold xx xxx at xxx 09/23/98 10:03:27 (It was a marketable order during the entire time.) By my reckoning, that's over THREE MINTUES to execute the order. Their response: Sixty seconds starts with "work time." This is the time that Datek Online begins to process your order. "Work time" may differ from the time that you confirmed the order. This difference can be attributed to Internet and system routing. "Work time" is indicated on all e-mail trade confirmations. WHAT BS! This was the reason they gave me, but it turns out there's an even "better" excuse: "... all orders to sell short will be charged $9.99 regardless of the time it takes to execute the trade." This was a short sale, so I guess I have no recourse at all. Oh, well. I just hope they don't want the shares back, next. Ken

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