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: steve kennedy who wrote (7950)	4/17/1998 8:34:00 PM
From: Gary Payton	Read Replies (4) of 16892

So let me get this straight, as I am tired of Ameritrade's consistently poor fills and inability to get a decent limit order through - what I want to know is that in using Datek, when say, a limit order to buy in a NASDAQ stock with a 1/2 point spread is placed just a teenie over the current best MM bid, it will get filled by Datek through Island. I understand the risk of partial fill here, but I want to know if it is truly possible to get this type of fill without going directly through Island. And what relationship does this type of trading (where you buy and sell inside the spread through Datek) have to SOES, because it sounds like pretty much the same thing. And if the above has been your experience, have you gotten confirmation fast enough to turn around and sell it just below the best ask? Although I probably won't consider that type of quick trading, the prospect of being able to buy a short-term stock for nearly the same as the MM's is enticing.

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