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: Bob Campanella who wrote (758)	12/18/1996 9:57:00 AM
From: Marie Thorsson	of 16892

>Do you know how long it takes (Min & Max) to fill an order Yes I do - I'd encourage you to read back through this thread to hear lots of different experiences about this. Suffice to say, it's fast. The thing with Datek is that you always have real-time quotes, so you generally don't place an order unless the stock is trading near your price (of course, you can if you want, but then obviously you don't expect it to execute quickly). The bottom line is that Datek executes marketable orders within seconds. So if your trade can possibly be executed (either on Island or with a Market Maker), it will get executed within a few seconds. My experience is that if you place a limit order within the Bid/Ask, it is executed within 10 seconds. Market orders usually go through within about 5 seconds. With limit orders within the Bid/Ask, I say usually, because sometimes it can take a lot longer, or never hit, but that's simply because your price isn't marketable - no-one (on Island or the floor) wants to accept your trade. Not much Datek can do about that.

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