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Non-Tech : Datek Brokerage $9.95 a trade
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To: Peter Stern who wrote (6366)1/8/1998 2:06:00 PM
From: Brendan W  Read Replies (1) of 16892
 
Peter, could you confirm some things I learned from talking to one of your traders about Datek that are preventing me from opening an account. He said that limit orders on listed stocks will not show on Island. He also said that unlike my current broker that limit orders on listed stocks will not mirror the NYSE/ASE. Assume, for example,:

o a NYSE stock is bid 10 ask 10 1/8
o I place a limit order for 100 at 10 1/16
o Later a limit order for 1000 @ 10 1/16 hits the specialist's book
o Then 100 shares transact on the NYSE at 10 1/16

My understanding is that Datek will not guarantee me a fill at 10-1/16 in this case. Correct?
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