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


To: Mama Bear who wrote (10747)1/9/1999 10:21:00 PM
From: David Kuspa  Read Replies (1) | Respond to of 16892
 
Why am I not surprised the Datek rep lied--excuse me, MISLED me with false information?

Thanks for verifying the quotes I kept getting for the $4 5/8 ask on Friday morning.

The good news is that my faith in Datek's real time quotes has been restored. The bad news is that I've been introduced firsthand to Datek's way of handling mistakes (it's not our fault, what you thought should happen couldn't happen because our information shows it was impossible, be thankful for the execution that you did get). The only thing I'm thankful for is that this was not a higher dollar amount.

What do others do when a partial execution results in their remaining order just sitting there on Island, even if the ask moves right down to it? Should I have immediately canceled that odd lot hanging out there on Island, and just put in a market order for them (eating the additional $9.99)? I want to be prepared if this happens again. I've heard of others having problems with orders falling into the Island black hole and not getting proper executions, but until now, I've been lucky.

D. Kuspa