Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Jon Tara who wrote (10536)	12/5/1998 2:12:00 AM
From: Mad2	Read Replies (1) \| Respond to of 16892

John here's the detail. The quoted prices and times are close aproximations. The entered and executed times are off the e-mail confirmation. How do I avoid this (limit order?)? I placed as a market order assuming it would result in a fast execution. Is this the reality of execution in fast market? How about other systems (MB Trading or others), will that get around this. I could have gotten the executions I wanted later in the day and would have gone that route if I knew this would have been a possibility. Advice welcome. Thanks You sold 700 shares of SHRP (Sharper Image Corp) at 13 3/8! ORDER DETAILS: The tracking number for this order is: B-400-AADH-3680 Order entered at: 09:40:24 on 12/03/98 Order processing began at: 09:40:26 Order executed at: 09:47:50 on 12/03/98 You sold 150 shares of DLIA at 9 7/8! ORDER DETAILS: The tracking number for this order is: B-400-AADH-3198 Order entered at: 09:37:51 on 12/03/98 Order processing began at: 09:37:51 Order executed at: 09:47:03 on 12/03/98 You sold 500 shares of DLIA at 10! ORDER DETAILS: The tracking number for this order is: B-400-AADH-3198 Order entered at: 09:37:51 on 12/03/98 Order processing began at: 09:37:51 Order executed at: 09:46:20 on 12/03/98 You sold 50 shares of DLIA at 10! ORDER DETAILS: The tracking number for this order is: B-400-AADH-3198 Order entered at: 09:37:51 on 12/03/98 Order processing began at: 09:37:51 Order executed at: 09:46:20 on 12/03/98 You sold 300 shares of DLIA at 10! ORDER DETAILS: The tracking number for this order is: B-400-AADH-3198 Order entered at: 09:37:51 on 12/03/98 Order processing began at: 09:37:51 Order executed at: 09:46:20 on 12/03/98 You sold 300 shares of SHRP (Sharper Image Corp) at 13 1/4! ORDER DETAILS: The tracking number for this order is: B-400-AADH-3680 Order entered at: 09:40:24 on 12/03/98 Order processing began at: 09:40:26 Order executed at: 09:43:27 on 12/03/98

To: Jon Tara who wrote (10536)	12/5/1998 10:51:00 AM
From: gbh	Read Replies (3) \| Respond to of 16892

I would guess that your orders were almost certainly executed on ISLD, and THAT suggests that perhaps ISLD is in as much a need for server upgrades as Datek itself. Jon, you really think this is an ISLD problem? It just sounds like the classic "Datek before 10am" problem to me. I never here anyone from the direct execution threads (MB, CT, JPR, etc.) complain about slow fills before 10am, and from what I gather, these guys are directing orders to ISLD quite a bit. I've come to the conclusion that either: a) Datek's system is simply not robust enough to handle the early morning volume (most likely), OR, b) Datek uses this time to trade against its clients (I hope this isn't the case). I find it interesting that I have never seen anyone post here that they have benefitted from these slow morning fills. One would think that, on average, slow fills might help people as much as hurt. I rarely try to trade in this time period any more. I do know that for me, Datek continues to be very quick with executions after 10am, even in fast moving stocks. Gary