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


To: Gorak Shep who wrote (6428)1/14/1998 2:10:00 PM
From: Michael Wright  Read Replies (3) | Respond to of 16892
 
To all.
The following are trades I placed today. Maybe one of you or someone from Datek monitoring this may have an explanation. This kind of thing irritates the @###@##@%% out of me and usually ends up costing me two commissions for 20 shares of stock and another commission to get rid of the 20 shares. (These were short sell orders)

The orders:
Selling 1000 shares of NTAIF at 15. Tracking#: D-000-AAAL-8022 01/14/98 13:27:51
Selling 1000 shares of NTAIF at 15. Tracking#: D-000-AAAL-8023 01/14/98 13:28:54

The results:

01/14/98 13:27:51 Sell 990 NTAIF 15 Open -Day

01/14/98 13:27:51 Sell 10 NTAIF 15 Open -Day *

01/14/98 13:28:53 Sell 990 NTAIF 15 Open -Day

01/14/98 13:28:53 Sell 10 NTAIF 15 Open -Day *

* shows that this order is a partial fill from a larger order.
You will be charged only one commission for the entire order.

Why is it that both of these orders were partials? Why wasn't the second partial of 10 shares applied to the first order. I don't see any explanation for this other than Datek purposely split each order to guarantee a commission for each order. Any comments anyone?

Michael Wright