TO ALL:
There was very long and heated discussion on this subject on the Datek thread last year. The Datek people came in a few times and gave some lame excuses, the gist of which is as follows:
Datek claims that because they are Island's sponsor, that technically, the trades get reported as if they (Datek) were the principal (Jawd, watch your spelling <vbg>) and that as soon as Island gets their own ID number, this would change. So far, that hasn't happened, but they continue to swear that they DO NOT act as MM in any stocks, except two symbols, which I forget, that are actually test symbols for the electronic system. They also SWEAR THEY DO NOT trade in front of their clients. I guess, based on many posts there, you would get a lot of arguments from the clients affected, to the contrary.
In any event, that is why (they say) there is that statement on the back of your confirmations.
Len |
