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


To: bgavlick who wrote (10764)1/12/1999 11:01:00 AM
From: Jon Tara  Read Replies (1) | Respond to of 16892
 
The remainder of Datek partial fill orders is NOT cancelled if the market moves.

Your experience may be different, if you are using Island without using Datek.

It may be that Datek re-enters the Island order for you, but an order that gets partial fills and then has the market move away WILL be completed, should the market move back through the order price again.

I think that it may be the case that the order is re-entered, since people have complained in the past that when the partial orders happen, they lose their priority on ISLD and go to the bottom of the queue for their price level.

I've speculated in the past that this is exactly why most of the partial orders are placed, and that Datek should not allow this abuse of Island.