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: AHM who wrote (9645)	9/8/1998 1:31:00 PM
From: WhipsawMcGraw	Read Replies (1) of 16892

Wrong. First, companies that buy order flow MASH HRZG SHWD THRD NITE just to name a few have contracts with many firms to buy order flow. It does not matter what the bid or offer is. They execute 1,000 shares at the best bid or best offer. If a client does not want it at the bid or offer limit orders are placed and rebates are not paid. Large firms do not care what price the order is executed at. What is important is what is done after the order is executed. My point is that firms that sell order flow to not compromise clients execution. The same order system is used. Instead of sending it to the firm that is on the bid or offer, you route it to one designated market maker. If the spread is less than 1/8 they do not pay for the order but the execute it just as fast. Lastly, age has nothing to do with credibility or ability. I will put my firm and fund against anyone. I am not implying I am the best but I am not concerned about others that are older. Saying that you never should deal with a firm that sells order flow is an ignorant statement. If you single out a firm that you have experience with then that might have credibility. To use general statements like "all" is an ignorant statement.

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