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


To: 10K a day who wrote (15119)10/29/2000 7:40:07 AM
From: RockyBalboa  Read Replies (1) | Respond to of 16892
 
Impristine,

one last word on it:

While I strongly believe that Richard James has no case on Datek (neither for misrepresentation of orders nor for the alleged delay in handling transfers),

he might have a case against other paricipating brokers and the banks initiating an account transfer.
-We all know that from time to time, MMs do not honor their own quotes (at least not in full) persistently (and complaints have been filed regarding such backing off). Even when this could be a problem with order routing at the give-up broker, it is not done with scienter.

(One easy solution would be to use a broker with manual order routing, like CyberTrader, so that the individual takes over even more responsibility).

-Regarding bank transfers from my experience in the commercial banking I know that (comparable to clearing up problems with executing orders) it is the duty of the bank initiating the transfer to find out the whereabout of a transfer, not the receiving bank. Again, no case against Datek.