Larry, I am investigating that myself. I get great service at Quick & Riley, but the commission on my typical round-trip trade is the better part of what used to be a day's pay in the firmware galley ships.
I'm checking out datek.com because they say everything goes straight to the floor:
"Datek Online uses an automated, intelligent order-routing system to place
your orders in the best venue. Your orders route directly to NYSE, AMEX
and Nasdaq. Datek also represents your Nasdaq orders on The Island
Electronic Communication Network- the second largest ECN.
"Datek's system also takes advantage of cutting edge InterNAP technology.
InterNAP Network Services Corp., a strategic Network Provider for Datek
Online, offers solutions for high-performance Internet connectivity and
routing technology. InterNAP technology assures that your orders get to
the market even on days with high Internet activity.
datek.com
Here's a little diagram, too:
datek.com
However, it doesn't look like you can short-sell on-line, it doesn't look like they have touch-tone service at all, and it's unclear whether real brokers are available all the time or only when the internet site is down. (Yeah right, try to nail the peak under those conditions!) If there's no way to sell short, forget it. I'll know in a couple of days. |
