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

To: taLuis who wrote (8156)	4/24/1998 6:46:00 PM
From: Edward J. Edwards, III	Read Replies (1) \| Respond to of 16892

Ok, sorry this took so long to post but I think it might be worth while to some of you. So here goes. I have spent nearly 90 minutes on the phone will customer service reps at datek, over the last few days. I was told the following by the assistant trading manager. He stated that anyone that put in a sell order and receive a confirmation number would be reimbursed for their losses. Unfortunately mine was a lost opportunity of not getting VVUS before a 4-5 dollar runup, so they are not compensating those people. So I asked, "If this happens again, and I am on the selling end of the transaction, I would be reimbursed for any losses." He stated, "Yes, and we are in the process of doing just that." I continued and ask what would happen if i got a partial fill,(of course I did not), and then the order some how disappeared, and he again stated that they would receive the shares regardless of the loss to datek. Having said this, has anyone received compensation for losses under these conditions or was I being soup fed a line of crap. Let me continue though: Then I asked what is going on with your service, he told me that they have been experiencing a tremendous amount of volume over the last 3 days during certain parts of the day, (really), I said, but this was not a problem on black monday, oct 27, he said the following, "right, but the marketing department hadn't setup the Jerry springer thing yet." I said what Jerry springer thing, then he proceed to tell me that some weeks back, I can't recall how long he said, but some weeks back jerry springer did a show on datek. AND DATEK SETUP NEARLY 50,000 ACCOUNTS FROM THE SHOW!!! In then said that datek was not prepared with the infrastructure to handle that kind of volume, (really) and that they had purchased 10 new server that would be up and running but june 1st. So I pressed him and said, what am I supposed to do till june first, and he said that they may have some additional capacity added over the weekend, like they had done thursday night. Anyway, the problem is datek's and all of ours. I fortunately did not lose anything except the potential of making 2000 from the sale of a stock which I did not receive. The assistant manager did give me 10 free trades, wow 5%, I guess that is better then nothing. If any of you really did lose because of datek, I was told they were compensating those who lost money. Hope this helps someone, didnt help me much. Ted