Silicon Investor (SI) -- The First Internet Community

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

To: Esteban who wrote (6222)	12/12/1997 9:47:00 AM
From: Peter Stern	Read Replies (2) \| Respond to of 16892

Esteban - This question comes up relatively frequently. As far as Datek Online is concerned, the only 2 choices are represent the order or fill it. Nothing else. Now, let me ask you a question. How do you perceive "representation"? who is your listed quote provider? Or are you using the datek online quotes? The old style NYSE consolidated quote feeds are not the fastest in the world, and I have seen third party "real-time" tools be nominally 40 seconds or more late, and when things get cooking I have timed them at 5 minutes behind real market data. -peter smith wall

To: Esteban who wrote (6222)	12/16/1997 10:33:00 AM
From: Jeff	Read Replies (5) \| Respond to of 16892

Dear Datek Online Customers, I hope all is going well with each of you this holiday season and wish you the best of luck for the New Year. I just wanted to drop in to say hello and update you, our customers, on the status of the Cashiering Department. We have been closely monitoring our statistics regarding our Automatic Customer Account Transfers (ACATS), and the statistics show an extremely impressive retention rate. The number of account transfers out of Datek have been steady at an average of six per day, while the number of transfers in have increased to well over 50 per day. We believe this a result of our success in meeting the needs of our customers. We are working closely with our IRA trustee, Delaware Charter, to begin the ROTH IRA program. Delaware Charter is waiting to receive all of the necessary information from the IRS. Once this information is received, we can launch this new retirement account option which should open new possibilities for your retirement planning. Early in the coming year, we will be implementing Online Cash Transfers which will enable you to quickly transfer funds from your personal checking account to your Datek Online account. This will be a great alternative to mailing and wiring funds because through Online Cash Transfer, the funds can be readily available for trading within 24 hours. Datek also plans to make it easier for you to pay your bills. Online Cash Transfer will be expanded to allow you to pay bills directly from your Datek account. Datek will also offer checkwriting services so you can buy your groceries or pay for your drycleaning with your trading proceeds. We would like to thank you for your patience in allowing us to restructure our organization to meet the needs of our enormously growing customer base. We now feel we can spend more time concentrating on creating innovative ways to make it easier for you to deal with your finances. If you have any suggestions or concerns please feel free to contact us. We appreciate the input, and welcome all comments. Sincerely, Jeff Kosarin Vice President of Cashiering DISCLAIMER FROM DATEK The Silicon Investor Thread is a valuable tool for Datek Online to understand and hear the needs of our customers and potential customers. We read this thread periodically for input and suggestions. However, this thread is not a forum for formal complaints directed toward Datek Online. If you have a specific complaint please direct your complaint to our Customer Support (support@datek.com) or Compliance Department.