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

To: robert klasky who wrote (5824)	11/5/1997 10:06:00 PM
From: Ira Player	Respond to of 16892

Don't you find it interesting that the primary reason MM's don't like SOES is they are not able to back out of a legitimate offer. The SEC investigation that led to the reduction in spreads that we are now enjoying highlighted many of the games played by the MM's. The hate expressed by the MM's for "SOES bandits" is supposedly aimed at the practice of hitting a MM in a fast moving market before they have an opportunity to change their posted Bid/Ask. However, my belief is it's the inability to reject, illegally by NASD rules, a legitimate acceptance of their posted Bid/Ask IN ANY MARKET that pi**es them off. As the power of on line transaction processing improves, the MM's will have less and less control of the system. Why let them have the spread when principal to principal transactions are automated? Stolen from irby, "Long live on line Trading" Ira

To: robert klasky who wrote (5824)	11/6/1997 12:34:00 AM
From: Jack Zahran	Read Replies (1) \| Respond to of 16892

Their SOES Bandit background gives them expertise and know how in working trades to their advantage, but their strength is also their weakness when it comes to showing responsiblity to their clients such as other more traditional brokers. Notice how Merril Lynch is making compensation to their clients for bad trades on Tuesday. Datek expressly states that they are responsible for nothing, not even if their system err's. Its good not to have a problem, but when you do , then you'll understand.