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: wilywilly who wrote (16818)	11/19/2003 1:18:12 AM
From: The Vet	of 16892

I had that very problem as well where the cash available was a fraction of what it should have been. I was even given the same excuse as you were " The excuse is that the "Datek system couldn't handle accounts with short options positions". because I had sold a covered call on one stock but the total of the call in no way balanced the difference. However once the call position expired the cash available still didn't change and only after several emails did the matter get corrected. In my case the difference was very substantial, in the order of 7 digits and I very much doubt the excuse could be valid. I never noticed those errors when Datek had the account. I wonder what that does to their reporting, and accounting... Perhaps there is a real reason they are not prepared to admit to. If it was simply a matter of software it should be a relatively easy fix. So why doesn't it happen???

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