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 (5251)	10/8/1997 4:17:00 PM
From: Jeffrey Citron	of 16892

I understand you situation and their are no easy solutions. The basic problem is lets say a stock is 6 BID 6 1/2 ASK A order to BUY 4450 at 6 1/4 is placed. The market is now 6 1/4 BID 6 1/2 ASK You now place a order to SELL 4500 shares at 6 1/4. How would you like this situation handled? This is the simplest of all the complex problems that start to happend when you have mixed lot orders interacting with round lot orders and odd lot orders. I will take all of your recomendations and hopefully we will come up with a solution that most people will be happy with. We at The ISLAND ECN are currenly working on some new features to help every one of our users. These new features include; All or NONE. Minimum number of shares that must be executed. The ability for your to decide if you don't want your order to be displayed. I hope these questions help you understand the difficult decisions we face. If you have any additional questions I would be happen to answer them. Jeffrey Citron Smith Wall Associates LLC

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