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: INFO_DART who wrote (9149)	7/19/1998 9:37:00 PM
From: Michael Turner	Respond to of 16892

Without knowing any more about Datek and Island than what is published about them (17a23 filings, etc.) I can only tell you what my opinion is... What percent of the volume of all Nasdaq transactions are being executed through Datek? It is published that Island is responsible for 4%, and I would guess that Datek (above and beyond Island) is responsible for at least that much. For argument's sake, let's say that Datek/Island execute 8% of the daily volume of Nasdaq. Even if the company gave away 20% of their transactions because they were not executed within 60 seconds, that's still a heck of a lot of transactions at $10 a pop. The reason that Datek is growing so quickly seems to be twofold: the first is $10 commissions, which are considerably cheaper than many of the other brokers. The second reason is fast executions...at least faster than the rest. I have heard that executions are considerably slower now, and that there seems to be some accounting problems as a result of their explosive growth. I am not using Datek, so I am not sure if this is true or not. However, there are some pretty negative posts on their thread about such problems. Michael Turner Author DayTrading into the Millennium tradersresource.com