I'm not sure why you posted this to me, nor how you may have gotten the impression the subject is "market" orders. The subject is Datek's inability to handle the volume that they have brought to themselves by signing up the multitudes, before getting their systems in order. "Marketable orders" as Datek uses the term, means any order that is marketable, i.e., either a market order, or a limit order whose limit is the ask (if a buy) or the bid (if a sell). Though they don't guarantee it, and will not give a commission free trade if you can't, you can often trade at the opposite ends of the spread, or in between it.
For the record, I almost never use market orders. Perhaps one out of a hundred, if that much.
Thank you so much for your insightful information. Perhaps you should recheck your knowledge of how market orders travel through Datek. It is my understanding that market orders at Datek are broadcast on Selectnet only, with supposedly no human intervention. (Front running allegations notwithstanding) <g> I'm sure someone will correct me if I am wrong.
Regards,
Len |
