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Non-Tech : Datek Brokerage $9.95 a trade
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To: Crabbe who wrote (2437)4/29/1997 12:42:00 PM
From: Quaddad   of 16892
 
I had placed a limit order with Datek and they were very up front with what happens to limit orders. The bid/ask on the stock I wanted was $25 \ $25.25 with my limit at $25 1/8. When I asked Datek why it never executed when people were buying and selling at my limit for a half hour, they said "at no time did the ask price strike your limit order price". So the impression I'm getting is they don't send limit orders anywhere. At least not until your limit equals the ask price.
That's the first time that ever happened to me on a heavily traded stock.
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