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

To: AHM who wrote (9633)	9/7/1998 3:53:00 PM
From: Len	Read Replies (1) \| Respond to of 16892

Welcome AHM... Perhaps you should read back in this thread, where two of Datek's officers came in, at different times, and swore they DID NOT make a market in any securities, other than one imaginary test security. I'm not saying they don't, just that they strongly tried to dissuade us of that notion. Sorry, I don't have the specific posts, but it was about a year ago, if I'm not mistaken. Perhaps someone has them saved, and will post them. Also, I think you're mistaken as to how market makers ply their trade. Contrary to popular belief, market makers almost always go flat at the close. They are the original daytraders.<g> You will also see various MM's in a stock way down at the bottom of an L2 listing, when they wish to not be in the current market of a particular stock. Since they are registered as a MM in the stock, they are required to post a bid and offer, but often they don't wish to participate. Perhaps someone will correct me if I am wrong. Good luck. Len

To: AHM who wrote (9633)	9/7/1998 8:10:00 PM
From: INFO_DART	Read Replies (1) \| Respond to of 16892

AHM, I think you are substantially correct. However, many people believe that they are better off dealing with a firm that is not making a market nor selling their order flow to those that do. In fact, some people probably trade with Datek because they believe that Datek isn't "Trading against" them as a market maker. Yet, there seems to be evidence on the Datek Market Maker thread that Datek and its affiliated companies are market makers (unregistered or otherwise). Subject 22532