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: Gary Payton who wrote (7953)	4/18/1998 1:48:00 AM
From: jawd	Read Replies (2) of 16892

>How long does it usually take to post the stock to your Datek account after you've placed the limit order (on average, assuming your limit beats the best MM bid)? In my experience, two or three reloads of the page - about a minute or two - it may actually get to the portfolio in seconds, but what I'm saying is that Datek servers sometimes take a minute or two to respond for a page reload - so you are sitting there waiting for the info to come down the line. >Have you ever had problems of the partial fill variety? I only trade high volume stocks so I might give and order for say 2000 and it would sometimes get broken down into 2 or 3 parts within seconds of each other - but you only pay for the one trade (although 2 or 3 actually occured) >Any other glaring problems other than speed? Only the complete crash of the system the other day coupled with no meaningful, sincere effort to address concerns of clients who had been affected - it was a bit of a cold attitude from them. They clearly are nice to know when things are going well - if you have a serious problem - they are non-responsive. >What is MB (I'm assuming it's the same as Datek's system of posting through an ECM like Island) and what are the specifics? MB Trading is a broker www.mbtrading.com who have software called RealTick III which is proper online trading software - check the website. >And, BTW, I just checked out island's web site (www.isld.com), it looks like a way to trade between the spread with faster executions and a more reliable server - do you know anything about this and how to look into possibly getting started with it? It was Island that crashed the other day - despite their silence and non-admission. Either Island caused Datek to crash or visa versa. They are both in the same building (I believe) so I guess one could have pulled the other down somehow. As the Island website says - they only deal directly with licensed brokers - thats why someone like MB is good. MB lets you direct your order to island or several other destinations. I really like Island - down to earth people, the biggest ECN on the Nasdaq in terms of volume. Probably the most innovative people in the game and certainly the one to watch. Maybe soon they will offer something to non-licensed individuals. But I think they will do it through Datek. Datek and Island are very tight. As regards opening multiple browser screens; if you are running a significant realtime trading package with news, graphs, is it becomes quite unmanagable. Better to use two machines and maybe even two phone lines... anyway, the point is that if you fire off several different browser reloads at once - you'll throttle your realtime quote info because most of us are only getting say 28 - 50k bps modem connection in theory only. Reality is things are slow on the net - at least for me. So, I hope that answered most of your questions.

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