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

To: Esteban who wrote (9805)	9/24/1998 10:42:00 PM
From: Ken Brown	Respond to of 16892

I'd actually forgotten this was a short sale until I looked it up. BUT, it was a short sale at the bid, on an uptick of the bid. I don't see what that should be treated any differently from a long sale. But, it's the "working time" exception that really bugs me. They use the guarantee as a marketing tool, and then try to weasel out of it. True, I don't know of other brokers with this "guarantee", but if it's a hollow guarantee, what's the difference? I'm encouraged to hear, though, that you've gotten it from them. That's a hopeful sign. Yes, I read the NYSE exception ... but I'll probably forget it as soon as it happens to me (though I try to avoid using Datek for listed stocks whenever possible). There are actually a total of 5 exceptions, most of them quite reasonable. Thanks, Ken Exceptions to this policy include the following: 1.Your order must remain marketable upon entry and be marketable for at least 60 seconds and have adequate volume. 2.Sixty seconds starts with "work time." This is the time that Datek Online begins to process your order. "Work time" may differ from the time that you confirmed the order. This difference can be attributed to Internet and system routing. "Work time" is indicated on all e-mail trade confirmations. 3.The stock must not be locked or halted. 4.This guarantee does not apply to New York Stock Exchange and American Stock Exchange stocks before 10 AM ET (due to variable opening times). 5.Orders that have been stopped within 60 seconds and all orders to sell short will be charged $9.99 regardless of the time it takes to execute the trade. An order that has been stopped is one that has been guaranteed a price of execution but which might get a better price.