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: Gorak Shep who wrote (2332)	4/23/1997 11:45:00 AM
From: Jon Tara	of 16892

Gorak, I agree and disagree. On one hand, everyone knows how I feel about Datek being in the free quotes business - I think it distracts from what is important, which is filling our orders quickly and accurately. I think that anyone who is a serious trader should use a commercial quote service. On the other hand, when you DO place an order, they had better have good quotes. If the quotes are incorrect, you could have an order refused (becuase it is too far from the "market", but isn't actually so), because of insufficient margin (but you really do have sufficient margin) etc. Furthermore, (though I haven't heard of this happening) it's possible that positions could be sold-out due to lack of margin if quotes are incorrect. (The ultimate disaster scenario.) Hopefully, if Datek did this they would accept responsibility and reverse the trades. Question: was orders7 up this morning, and if you placed an order, did it go through and get executed in a timely manner?

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