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

To: gbh who wrote (9251)	7/23/1998 1:04:00 PM
From: Rene Madsen	Respond to of 16892

For all the poor executions and slow servers I have never got anything but the occational single credit. As to "stop orders" they themselves recommend always to use it. I like to know exactly how much I spend on a given stock, even if it's above the current ask.

To: gbh who wrote (9251)	7/23/1998 7:16:00 PM
From: Peter Stern	Read Replies (2) \| Respond to of 16892

>I'm pretty sure on a market order, Datek's >order routing first >checks ISLD for a match at the current >ask. If not there, then the >offer is SNET'ed out to the world >(probably SNET broadcast, but >maybe pref'ed, who knows). (Its not SNET broadcasted) Datek Online's order processing systems treat marketable limit and market orders EXACTLY the same way, in a strict time order. Datek Online recommends that you use marketable limits rather than market orders. They tell our system exactly what YOUR price limits are for that order. Stock X offered at $14? Go ahead and and enter a limit order to buy it at $15. Its just like a market order in terms of priority, AND you wont get an execution outside your bounds. By the way, ask any other brokerage firm, and they will tell you to always enter market orders, that they go "faster" or that they can't work the order if its not a market order. Wonder why. -peter stern datek online