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Non-Tech : Datek Brokerage $9.95 a trade
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To: doniam who wrote (3323)6/19/1997 7:10:00 PM
From: Crabbe   of 16892
 
I have had numerous Marketable Limit Orders Placed on ISLAND. I don't care where they go as long as they execute. Datek does place MARKETABLE LIMIT ORDERS on ISLAND, and USUALLY they execute immediately, but with Dateks relationship with MM I can understand why they don't trade some of them immediately. Occasionally they sit there for a while. In that case Datek owes you an execution Demand it. Or demand a commission rebate as in your case you did sell it at the price of the transaction in question.

I think Datek is doing this to increase ISLAND volume and that increases everyones future prospects as good ISLAND fills by other brokers mean they will trade on ISLAND more thus futher increasing ISLAND's volume.

In any case the fact that an order is placed on ISLAND will be of little consequence once the SEC rule change is totally in effect.ODETA is not yet under the new rules.

I think Datek is jumping the gun on this just a little bit. But I can live with it as long as they will honor the trade when I call and complain.
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