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

To: blowout who wrote (8715)	6/5/1998 9:38:00 AM
From: Robert J. Partridge	Read Replies (1) \| Respond to of 16892

Hi Blowout, Yes, I got the same treatment, quotes cut because they determined I was a "professional trader." Below is one string of the correspondence between them and me (reverse chronological order). They don't even bother to address specific questions such as "what made you determine I was a professional trader", they use canned responses. What a crock. Incidentally, their on-line application specifically asks the questions regarding "professional trader." Dear Datek Online Trader: If you feel that you are not a professional user please read the professional definition given: If the answer is "yes" to anyone of the below questions you are not able to receive quotes from NYSE. (1) ARE YOU ASSOCIATED WITH A BROKERAGE HOUSE? (2) IS ANYONE IN YOUR IMMEDIATE FAMILY ASSOCIATED WITH A BROKERAGE HOUSE? (3) ANY NON-NATURAL PERSON ACCOUNT SUCH AS: CORPORATE, PARTNERSHIP, TRUST, SOLE PROPRIETORSHIP, CUSTODIAN AND INVESTMENT CLUB ACCOUNTS. If the answer is NO please fax in information including job title, user name, and account number. Please state why you are not a professional user and that you have no relationship to a broker. The fax number is (732)744-9150. If you have any other questions please contact a Customer Support Representative toll free at 1.888.463.2835. Thank You Anthony Datek Online Request number 2. I was looking through the messages on Silicon Investor, and noticed several complaints that Datek does not bother to reply to emails. Is this really true? Anyways, would still like to know why you consider me a "professional investor"? Incidentally, I'll be closing on some real estate later this month, was planning to open a personal account with Datek (in addition to my IRA), but from all accounts on the web your company just isn't too concerned with consumer relations. Please reply, even if it's nothing more then "We're looking into it." Sincerely (and I do mean it), Robert Partridge Robert Partridge wrote: > > Could you please explain how you consider me a "Professional User"? I > don't meet any of the criteria you list below. > > Thank you for your attention to this matter. > > Robert Partridge > > mailbot@datek.com wrote: > > > > Dear Mr. Robert Partridge: > > > > Thank you for choosing Datek Online for your online investing. > > > > As you know , we are required to comply with the various rules and regulations of the New York Stock Exchange and other self-regulatory bodies. One such regulation prohibits "Professional Users" from obtaining free "Real Time" New York or American Stock Exchange quotes through a broker/dealer. As such, we are removing your ability to receive these quotes effective immediately. > > > > In the past, you have received these quotes as a result of an internal error. We are sorry that we must remove them now, however, we must adhere to the rules that the exchange imposes. > > > > A "professional user" is defined as anyone who meets the following criteria: > > Any Person registered or qualified with: > > The Securities Exchange Commission; > > The Commodities Futures Trading Commission; > > Any state securities agency; > > Any securities exchange of association; > > Any commodities or futures contract market or association. > > or foreign organizational equivalents. > > > > If you have any questions, please feel free to e-mail us at support@datek.com > > > > Sincerely, > > > > Datek Online