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

To: dumbmoney who wrote (8996)	7/8/1998 8:37:00 AM
From: Rene Madsen	Read Replies (1) \| Respond to of 16892

It's not very useful to provide a link to a subscription service. Perhaps you'd care to write a few words about the article? Thanks.

To: dumbmoney who wrote (8996)	7/8/1998 10:43:00 AM
From: Moonray	Read Replies (1) \| Respond to of 16892

Datek Postpones IPO While Under Investigation, Paper Says Iselin, New Jersey, July 8 (Bloomberg) -- The widening investigations into the trading practices of Datek Online Holdings Corp., one of America's fastest growing online stock brokerages, forced the Iselin, New Jersey-based company to postpone an initial public offering of its stock, the New York Times reported in its ''Market Place'' column, citing unidentified bankers. The Securities and Exchange Commission is now looking into whether Datek offered customers guaranteed stock returns, a practice that violates SEC anti-fraud laws. The agency, which began an initial investigation into offshore transactions, is also investigating whether Datek encouraged illegal trading practices by some of the more than 200 day traders on its desks in the 1990's, the paper said, citing unidentified sources who said they were interviewed by the SEC two weeks ago. Datek Online ranked fourth among online brokerage firms at the end of last year in terms of average daily transactions behind Charles Schwab Corp., E*Trade Group Inc. and Waterhouse Securities, according to Piper Jaffray Cos. o~~~ O