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

To: Michael Turner who wrote (9123)	7/16/1998 11:34:00 PM
From: John D!	Respond to of 16892

Have you tried to enter orders at Datek between 9:20am and 10:30am? If the answer is no. Then how can you claim "Datek is the best online web-browser based brokerage firm for OCCASIONAL investors."? I hope your book does not contain such out-of-body experiences/ideas. Again, the problem is not ISLD. The problem is that orders are sitting in Datek's system and cannot go out to ISLD. Don't confuse about the problem. I know ISLD is great. I know Jeff Citron is probably the most extraordinary intellectual and creative figure on the Street. But, just don't use Datek in the morning. regards, J.D.

To: Michael Turner who wrote (9123)	7/17/1998 12:01:00 AM
From: Morpher	Read Replies (1) \| Respond to of 16892

They are executing somewhere around 500,000* transactions each day, or roughly 4% of the daily volume of Nasdaq.* 500,000 executions per day is definitely too high for ISLD. I think something like 70,000 executions a day would be much closer to reality.

To: Michael Turner who wrote (9123)	7/17/1998 12:03:00 AM
From: INFO_DART	Read Replies (3) \| Respond to of 16892

Is Datek $9.95 Trade a Scam? Let's get to the bottom of this. You can trade for "Free" (e.g., no commission at Webstreet) if you trade 1000 share blocks. They make their money on the payment for order flow. No mystery there. Does Datek get paid for order flow. Does Island make money on my trade even if Datek "refunds" my $9.95. Since both Datek and Island are owned by the same people, are they still making money on my trade, even when they don't charge me a commission? What is Datek's business model? That is, how do they make money? Has anyone ever received a CASH refund of the $9.95 commission, after complaining that a marketable trade took more than a minute? I only receive credits for "free" future trades. Clearly false advertising. Thanks to anyone who can shed some light in this dark place.