SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Datek Brokerage $9.95 a trade
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Philip R Berber who wrote (7351)3/11/1998 7:22:00 PM
From: Barbara Hospel  Read Replies (1) of 16892
 
Jack White finally has their own web site and is offering the following:
How Does InterConnect Work?
InterConnect reduces the cost of the spread. The spread is the difference between the bid
and ask price of a stock. It is the dealer's profit for making a market in the security. You, as
the individual investor, bear this cost when trading through traditional channels.
.You can realize substantial savings when you trade through InterConnect, particularly on
stocks with a spread of ¬-point or more. InterConnect makes this possible, as the buyer and
the seller each receive half of the market maker's spread. On a stock with 1/4-point (25 cents)
spread, you would save 1/8-point (12.5 cents) per share. That's $125 on a 1,000 share trade!
Potential savings are evident in the InterConnect C h a r t.
.InterConnect orders are "crossed" (executed) once-a-day at 10 a.m.(Pacific Time).
However, your order may be placed at any time and held for the next crossing session.
.Cut-off time for the acceptance and cancellation of InterConnect orders is 9:45 a.m. (Pacific
Time). Cancellations will be processed on a best efforts basis.
.You have two trading options with InterConnect:
1.) Cross or cancel
2.) Cross or send to the dealer market as a market order ($5 fee applies)
.Participants must accept partial executions. The remainder of partial executions (shares still
not crossed) can be executed as a market order at NO additional charge.
.Execution prices for InterConnect trades are calculated at the midpoint of the official
NASDAQ quote at crossing time.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News