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

To: Mike who wrote (10531)	12/4/1998 1:19:00 PM
From: Esteban	Respond to of 16892

Thanks for the detailed answer, Mike. I have an inactive Web St. account. I agree with your comments about their trading interface. I keep monitoring the Web St. thread for reports of reliability in the One Click system, which is a direct entry system that's on again off again. So you are having better luck filling your non marketable limit orders with US Clearing's MM than with Island. When I was trading there, I was represented by NAWE most of the time. I didn't notice any difference with frequency of fills there. I did object to the amount of time it often took to get order representation. Usually 30 seconds to 2 minutes. Often I had to call and complain about no representation at all. My theory is that on Nasdaq you are much more likely to get your non marketable limit order filled just before the price moves against you. When it is about to move in your direction, you won't fill, but others will at your price. Maybe your orders with US Clearing are among the others, and what I have observed is the MMs ignoring Island. Have you noticed this pattern of fills? The trade may still work out, I'm speaking of the price movement initially, once it leaves your limit. Esteban