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: The Vet who wrote (11010)	2/12/1999 11:54:00 AM
From: pae	Read Replies (3) of 16892

Datek Online System Outage Blocks Trading For Six Minutes Dow Jones Newswires NEW YORK -- Datek Online Holdings Corp.'s online trading system was down for six minutes Thursday, preventing customers from online trading during that time, Chief Technology Officer Peter Stern said. Stern said that a processor problem in a back-end server began slowing operations at around 2 p.m. and that Datek decided to bring down the system to fix the problem. From 2:08 to 2:14, customers couldn't place trades or access account information, he said, but any orders placed prior to that time were processed. "It wasn't related to any capacity issues or load issues. It was a light day," Stern said. Online brokerages have come under increased scrutiny in recent weeks from regulators who have received a growing number of customer complaints about service. E*Trade Group Inc. (EGRP) had three days of recurring outages from Feb. 3 to 5 and Ameritrade Holdings Corp. (AMTD) on Monday also was down prior to the trading day. Datek is a privately held firm based in Iselin, N.J. - Caroline Humer; 201 938 5234; caroline.humer@cor.dowjones.com Copyright © 1999 Dow Jones & Company, Inc. All Rights Reserved.

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