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Non-Tech : Datek Brokerage $9.95 a trade
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To: Jack Zahran who wrote (6116)12/4/1997 3:19:00 PM
From: Jon Normile  Read Replies (3) of 16892
 
Dear Mr. Zahran,

Datek Online brokerage is not a market making firm. It is not Datek Online's policy to make markets on securities our customers trade.
I am not sure what screen you are looking at when you say that DATK is popping up as a Market Maker. As Mr. Tara said, you may be confusing Datek with Island. The two are not the same. Datek, like a large number of other firms, is a subscriber to the Island ECN. When Island is on the inside price of a stock it is representing the order of an Island participant. That could be Datek customer or another brokerage firm.

In addition, I would like to point out that over 90% of all orders sent to Datek Online are handled automatically, allowing us to be the only online broker to offer free commissions if our customer's orders aren't filled promptly. This also allows us to handle customer orders efficiently and, more importantly, reliably.
Contrary to your suggestion, we work very hard to make sure that our servers never go on vacation.

Jon Normile
Datek Online
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