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

To: Saita who wrote (9743)	9/20/1998 9:06:00 PM
From: Esteban	Read Replies (1) \| Respond to of 16892

Serguey, The Datek bid/ask quotes on listed securities are misleading. They are showing the bid/ask price on whichever regional exchange (or NYSE) last had an update in either bid or ask price, or bid or ask size. Since the regional exchanges normally have a lower bid and higher ask than the NYSE, anytime they have a change the spread will appear to widen on the Datek quote even though there has actually been no change on the best bid or ask at the NYSE. As soon as the NYSE has a change in bid or ask, the Datek quote will show it again, and the spread will appear to narrow. By the way, the Datek Streamer does not have this glitch. It always shows the best bid/ask, no matter which exchange it is posted on.