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: The Vet who wrote (3254)	6/16/1997 4:01:00 PM
From: Jon Normile	of 16892

Market orders on NASDAQ are not all diverted to S.O.E.S. Our routing system is described in detail in the Customer Guide and has been excerpted several times on this thread. S.O.E.S. is one option as is SelectNet preference. One customer mentioned that his 4,000 share order was broken into 1,000 share fills. He speculated that this was to use the S.O.E.S. system. In fact, a 4,000 share order is guaranteed not to be routed to the S.O.E.S. system as any order larger than 1,000 shares is not allowed to be routed to S.O.E.S. and orders are not allowed to be split up for this purpose. In addition, this customer reported getting a fill below the bid. If your order got executed below the bid, please contact us. We will make an adjustment. Finally, the customer mentioned that he felt limit orders were usually preferable to market orders. We agree! Limit orders place a cap on the price of your eventual execution and while they are marketable, they are treated just like market orders in terms of priority of execution. Thank you for continuing to post such excellent inquiries. We are Datek are listening and using your comments to constantly improve our service. Jon Normile Registered Representative

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