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: Hank who wrote (6741)	2/10/1998 10:25:00 AM
From: Scott Pedigo	Read Replies (1) of 16892

There has been serious and continual errors in Datek's quote servers. The last trade price listed in your portfolio's DOES NOT necessarily agree with the last trade listed on the quote server. DATEK has already several times explained that in the NEW system, the stock prices used to calculate the value of your portfolio are now the BID prices, no longer the last trade price. The idea is to tell you the value of your portfolio if you were to immediately liquidate it via market orders. This makes sense. In the old system - which you can still use - I believe they still use the last trade price, but I'm not 100% certain. DATEK has been talking about using new backend software with the old interface for better speed. To add to the confusion, some of the servers use a new (ugly) so-called CLASSIC interface, which really isn't. If this change has a negative effect regarding margin, probably it is something you'll just have to get used to. It's a policy change, not a cheat.

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