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


To: Fridrik Skulason who wrote (6740)2/10/1998 9:45:00 AM
From: Hank  Read Replies (3) | Respond to of 16892
 
ATTENTION EVERYONE!! There has been serious and continual errors in Datek's quote servers. The last trade price listed in your portfolio's DOES NOT necessarily agree with the last trade listed on the quote server. This situation has been ongoing since yesterday and remained unfixed even AFTER THE MARKET CLOSED in spite of repeated attempts on my part to get Datek to correct the problem. In my account, the quotes listed in my portfolio have routinely been LOWER than the actual last trade listed by the quote server. Why should this be a concern? Because this stiuation 1) cheats you out of additional margin and 2) allows Datek to incorrectly assess ADDITIONAL margin interest on a margin account that displays an INCORRECT balance.

I urge you all to watch the trade prices in your portfolio's closely for errors. If Datek continues to refuse to correct this problem, I urge you to report this problem directly to NASD.

DO NOT TRUST DATEK!!!

Hank