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Non-Tech : Datek Brokerage $9.95 a trade
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To: Crabbe who wrote (3325)6/22/1997 11:24:00 PM
From: Philipc   of 16892
 
Rodney, Quaddad, Jon and all:

Many thanks for your inputs.

I placed the market order because I saw that PAIR would open lower and the order could get filled before the market opened. I did not expect Datek would fill the order five or six minutes later. I have raised the issue with Datek, disputing the trade.

My view is that if a broker cannot fill a market order instantaneously (in a minute or two), then it should not accept market orders. And customers should not be blamed for placing a market order before or after the market opens. If this is the normal practice for Nasdaq stocks, then it should be changed. If enough voices are raised, there is a chance this practice can be changed. This is just the opinion of a novice trader/investor. In the meantime, I'll heed your advice and never place a market order before the market opens.

Thanks again for your advice.
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