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: Mama Bear who wrote (9738)	9/22/1998 11:39:00 AM
From: Jon Tara	Read Replies (2) of 16892

Island is becoming more and more a dumping-ground for odd lots. It used to be just the occasional painful 17-share trade. Now it is prevalent, and across the board. I just did a random sampling of perhaps a half-dozen stocks, using the amazing Island Java viewer, and every stock I looked at was peppered with these annoying odd lots. In many cases, 50% or more of the orders on the book were odd lots. I wonder if we are ever going to get "all or none"? I'd also be happy with a "whole lots only" designation. I also noticed today significant delays when placing sell orders. It took a couple of minutes for each of my orders to execute. This was NOT in a fast-moving stock. Unfortunately, I didn't have the Island book open at the time, so I can't confirm this, but I wonder if Datek puts the order up on Island first no matter what? I was selling at the bid, and so I feel the order should have gone right to the MM, unless there were a matching bid on Island.

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