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Non-Tech : Datek Brokerage $9.95 a trade
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To: Paul Shread who wrote (9936)10/9/1998 12:37:00 PM
From: doniam  Read Replies (1) of 16892
 
I think that Bear Stearns only cleared the trades for PT and their was no "backing" and the securities were in fact in the possession of BS. The problem when one of these outfits fail is not the loss of your assets but the fact that your account is difficult to trade or manage.

The financials received as a recent statement stuffer claimed in note 4. that DATEK had $17,867,436 net capital some $12,406,962 in excess of the amount required by SEC rule 15c3-1. This is as of 6/26.

Not concerned
Don
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