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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (12941)	8/3/1999 9:18:00 AM
From: Sir Francis Drake	Read Replies (1) \| Respond to of 16892

Re: fills from Datek. Ordinarily Market Orders have priority over limit orders. However, Datek routs market orders first to an MM (ISLD is limit orders only). In that scenario, a market order is very often filled after a limit order would be filled through ISLD, because even though an MM will (or is supposed to) honor market orders first, ISLD is faster. Had you let the order be a limit order, they'd try and cross you through ISLD first (and here you'd only contend with your place in the cue, and liquidity at the other end). In short, Market Orders, can often be slower than Limit orders, because MMs are often slower than ECNs like ISLD. Morgan