Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Philip R Berber who wrote (7351)	3/11/1998 7:22:00 PM
From: Barbara Hospel	Read Replies (1) \| Respond to of 16892

Jack White finally has their own web site and is offering the following: How Does InterConnect Work? InterConnect reduces the cost of the spread. The spread is the difference between the bid and ask price of a stock. It is the dealer's profit for making a market in the security. You, as the individual investor, bear this cost when trading through traditional channels. .You can realize substantial savings when you trade through InterConnect, particularly on stocks with a spread of ¬-point or more. InterConnect makes this possible, as the buyer and the seller each receive half of the market maker's spread. On a stock with 1/4-point (25 cents) spread, you would save 1/8-point (12.5 cents) per share. That's $125 on a 1,000 share trade! Potential savings are evident in the InterConnect C h a r t. .InterConnect orders are "crossed" (executed) once-a-day at 10 a.m.(Pacific Time). However, your order may be placed at any time and held for the next crossing session. .Cut-off time for the acceptance and cancellation of InterConnect orders is 9:45 a.m. (Pacific Time). Cancellations will be processed on a best efforts basis. .You have two trading options with InterConnect: 1.) Cross or cancel 2.) Cross or send to the dealer market as a market order ($5 fee applies) .Participants must accept partial executions. The remainder of partial executions (shares still not crossed) can be executed as a market order at NO additional charge. .Execution prices for InterConnect trades are calculated at the midpoint of the official NASDAQ quote at crossing time.