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

To: Peter Stern who wrote (11027)	2/12/1999 3:51:00 PM
From: Fred Puppet	Respond to of 16892

I can't get ANY servers to work now.

To: Peter Stern who wrote (11027)	2/12/1999 3:58:00 PM
From: Jon Tara	Respond to of 16892

TURN OFF THE INDEX QUOTES! Bad information is worse than no information. Until you get get accurate, up-to-date index quotes, TURN THEM OFF. Turn them off so that your customers will have to seek accurate quotes elsewhere. Yesterday, DJIA and NASDAQ indices were "stuck". Today, NASDAQ is "stuck" again. Many people have commented that this is a common situation, although I only just first noticed it yesterday.

To: Peter Stern who wrote (11027)	2/12/1999 4:00:00 PM
From: Prof	Read Replies (2) \| Respond to of 16892

We also know when we will be there, when the next big speed burst will be. Care to share that secret date?

To: Peter Stern who wrote (11027)	2/12/1999 4:52:00 PM
From: Sir Francis Drake	Read Replies (1) \| Respond to of 16892

Dear Peter Stern, Thank you for your answer. I certainly appreciate the fact that a Datek co-founder is here on this board, responding to customer concerns. This is very telling to me, and I know this is not true of every brokerage house. As you know I am not a Datek enemy. I duly note that IMNSHO, I feel very confident that Datek's executions are second to none, and the order routing the best. I also note that your accounting and margin policies are virtually flawless (at least in my experience) – this is no small matter, and for proof all you need is to talk to clients of some other popular brokers. ISLD was a boon to all traders and investors, and we can all thank Datek for somewhat leveling the field in the endless battle between the independent trader and the MMs. I also note that for those who do not use LII, your streamer is great (OK, it has some growing-pains type bugs); I could go on and on (good web design, generally reliable software, etc., etc.). I have also defended Datek from unreasonable conspiracy theories, and accusations which result from lack of understanding how the markets work. In fact, I don't even blame Datek for occassional glitches (such as Thursday), because no system will ever be 100% flawless. Failures do and will occur. My problem has been system overloads due to taking on extra accounts, knowing ahead of time that the system cannot handle the extra pressure. You say that you are doing all that's possible within reason to improve the system and you have taken steps to slow the account growth until you have systems in place that can handle it. I accept you word for it, and I'm very heartened by it. Maybe I'm naïve, or simply not very smart, but I not only believe you, I'm willing to put my money where my mouth is – I have stayed with Datek through thick and thin, and even though I've opened accounts with other brokers, I do the bulk of my trading with Datek. Realistically, though, I do not see the flood of customers – refugees from the truly awful brokerages – slow anytime soon, ads or no ads. Unless you actually limit the number of customers, you will always be playing catchup with your system upgrades. In this light, an alternative might be a suggestion I floated before: set aside a special system dedicated to the active trader – charge somewhat higher commissions, demand a bigger account or otherwise make the service distinct, and supply a truly “silly fast” system to those customers. I sincerely wish you luck in your efforts, and I have no doubt, that for all it's problems, Datek is still the best game out there. Regards, Morgan PS I agree with you that money is not the most important thing. As soon as I amass even 50% of your net worth (and it won't be from trading, that's for sure) I too shall join you in preaching the virtues of not overestimating the importance of the mere filthy dollars. BTW, I noticed that Bill Gates gave away some 3.5 billion dollars to charity recently. I was staggered by his generosity and I cried in gratitude that he's such a generous fellow (I think of him frequently when my Windows PC crashes in the middle of a critical trade). Thank God he still has 97 billion left to buy groceries.

To: Peter Stern who wrote (11027)	2/12/1999 8:12:00 PM
From: SeasideHeights	Read Replies (1) \| Respond to of 16892

Peter Stern unbelievably said: << Yesterday we decided to suspend taking orders for six minutes. This let us fix one errant back-end data server so that we could continue on with a trouble free day. >> Aren't we all glad they told us they were going to stop taking orders for SIX MINUTES. We were informed, right? We were given some warning that everything was going to be shutdown right? uhhhhhhhh...... no, we weren't. I wonder when they'll "decide" to suspend taking orders again for a certain period of time. I guess it's russian roulette? We have no way of knowing just take our chances? Remember, he said he DECIDED to shut them down. He didn't say anything crashed. What do the rest of you think about this? Would you like to be notified before they "DECIDE" to suspend taking orders in the future?

To: Peter Stern who wrote (11027)	2/13/1999 6:22:00 AM
From: Astarte	Read Replies (1) \| Respond to of 16892

Dear Datek When will options be available? It could be introduced in stages; eg by introducing the possibility to buy calls/puts & write covered calls to begin with. Otherwise I am very satisfied with your services (trading from Sweden). I have never had any problems with orders during the first/ last hour of trading, despite accessing the net thru a 28.8K modem. Happy Trading All!

To: Peter Stern who wrote (11027)	2/13/1999 3:20:00 PM
From: john o	Respond to of 16892

Your words... <<We know what we are doing, we know where we want to be, and we know how to get there. We also know when we will be there, when the next big speed burst will be. Nobody would like us to be there faster than us.>> And when (approximately) is that?

To: Peter Stern who wrote (11027)	2/13/1999 11:59:00 PM
From: Investor2	Read Replies (1) \| Respond to of 16892

When will Datek offer options trading? When will Datek offer checkwriting? Best wishes, I2

To: Peter Stern who wrote (11027)	2/14/1999 3:48:00 PM
From: Investor2	Read Replies (1) \| Respond to of 16892

RE: "check writing.....sky will be full of pigs first IMHO." Is that correct? Message 7820631 Best wishes, I2

To: Peter Stern who wrote (11027)	2/16/1999 10:29:00 PM
From: Dan Clark	Read Replies (3) \| Respond to of 16892

Peter, your Customer Support is horrible! You and the senior management team should know about it. Please forward to the appropriate Senior Manager in charge of Operations. I have tried for the last Month to set up an account with Datek and am about to go elsewhere, even if it means higher monthly costs and commissions. I believe that Datek could provide me with the service that I want, but your Customer Service department is so inept that it keeps losing the forms. So far, I have talked to some one in Customer Service three times and have E-mailed several times. In phone conversations, one fellow (whose name I can't remember) was nice enough to go and hunt for my account forms. He found them. On two PRIOR occasions, the Customer Service reps gave the standard response, "Wait until you receive an E-mail." Of the several E-mails that I have sent Customer Service, only one person, Lisa Weber, made the effort to find out the status (received Account Package, but missing one form). In my last E-mail, I directed it to be forwarded to Lisa. The "individual" that responded did NOT forward it and said that Datek had NOT received my package. Frankly, I have worked very hard to become a Datek customer with very little response from Datek. As of now, Datek will have to work very hard for my business. I have "Xed" out the Reference Numbers. I'll send them to you privately if you wish. Regards, Dan Clark. -------- Jerold, This absolutely the most absurd thing that I have ever heard! You HAVE, repeat HAVE received my account application! If you had bothered to even check, you would have found this out. You received my application form prior to January 31, 1999. This was confirmed by voice and by e-mail. Further, I sent the missing IRA application form over two weeks ago! Also, my e-mail included instructions to forward the e-mail to Lisa Weber at the top (she is one of two competant people in your Customer Support organization). You completely ignored that instruction! Why are you responding? Your Customer Service department is the absolute worst. I am sick to death of trying to do business with you. It is obvious that you cannot manage customer accounts in any professional manner. My next move will be to publish this e-mail on the Datek thread of Silicon Investor. I am forwarding this to Peter Stern so that upper management can have visibility to the problems. Most sincerely, Daniel Clark. -----Original Message----- From: Datek Online Customer Support [mailto:support@datek.com] Sent: Tuesday, February 16, 1999 7:09 AM To: Daniel Clark Subject: Re: FW: Account Status (xxxxxxxxxxxxxx) Dear Daniel Clark, I appreciate the opportunity to respond to your e-mail. As of 2/16/99, Datek Online has not received your Datek Online account application form nor your Delaware Charter IRA application form. Once Datek Online receives the appropriate documentation, your account will be activated within 24-48 hours. If we can provide you with further information please contact the Datek Online Customer Support Team at 1-888-Go-Datek (463-2835) or e-mail support@datek.com. Sincerely, Jerold Yee Customer Support Datek Online Brokerage Services Corp. Member NASD/SIPC -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Please use xxxxxxxxxxxxxx as the reference number for this message. -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Original message follows: ------------------------- >>>> Please Forward To Lisa Weber <<<< Lisa, In the E-mail below, we discussed that I had sent and Datek had a received an account package that was missing a form. On Jan 31, 1999, I sent the missing "Application For IRA" form to Datek. I have not heard anything since then. I'm concerned that the form was lost. Please check my account status: -- Has Datek received the form? -- Has the account been activated? -- Is there a delay for some reason? Thanks and regards, Dan. P.s. Even though there have been problems setting up this IRA account, I also filled out an on-line application for a standard, non-IRA trading account last Tuesday. I hope that my faith in Datek is not mis-placed. -----Original Message----- From: Daniel Clark Sent: Sunday, January 31, 1999 8:32 AM To: 'Datek Online Customer Support' Subject: RE: Account Status (xxxxxxxxxxxxxx) Lisa, I'm sending the form today. Regards, Dan. -----Original Message----- From: Datek Online Customer Support [mailto:support@datek.com] Sent: Saturday, January 30, 1999 12:51 PM To: Daniel Clark Subject: RE: Account Status (xxxxxxxxxxxxxx) Dear Dan, Thank you for your interest in Datek Online. I appreciate you taking the time to explain your experiences with our Customer Support department in your e-mail. I can understand you being concerned with your account. For the most part, Datek Online sends an e-mail once the application has been received. This e-mail contains your account number. If there is missing information, a follow-up e-mail will appear stating that your account is frozen due to missing information and that it will be reactivated once the information is received. This is logged into our backoffice system where all of our customer support representatives can view the information. I do not know why you did not receive those E-mails and I apologize for the confusion. Once we receive your IRA information, your account will be activated within 48 hours. I am glad that we could resolve this situation for you and wish you the best of luck trading in the future. If we can provide you with further information please contact the Datek Online Customer Support Team at 1-888-Go-Datek (463-2835) or e-mail support@datek.com. Sincerely, Lisa Weber Customer Support Datek Online Brokerage Services Corp. Member NASD/SIPC/ Boston Stock Exchange -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Please use xxxxxxxxxxxxxx as the reference number for this message. -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Original message follows: ------------------------- * Forward to Lisa Weber * Lisa, Thank you for responding. I am writing you this e-mail in hopes that you will correct a situation that causes grief to both of us. Why should I care? Because Datek has the potential of offering me a valuable service at a good price. BUT, it's customer support is causing me headaches (see below for details). I am taking my valuable time in explaining this customer service problem because I want Datek as my broker and I want you to succeed! And, I want good customer support. Prior to receiving your e-mail, I called your help desk yesterday and got *no* help. The customer support rep stated that the standard customer support policy was that I had to wait for the account to be funded and then Datek would send an e-mail to me. He would not check for my package. Today, I called back and talked to a different Customer Support representative who was *very* helpful. He got the status information that I needed (received package, but form missing). Regarding your e-mail and your customer support policy, there are two problems... First, if you read your e-mail carefully, notice that it appears to reiterate Datek's standard policy. It does NOT state whether Datek has or has NOT yet received my package. That leaves me in limbo. Second, your standard customer support policy says that you will e-mail me when you fund the account. This policy won't work if something goes wrong! And, something did go wrong... It turns out that I neglected to include an IRA Transfer Form with the package. According to your policy, I wait to hear from you that package was received and my account is set up. Under your policy, Datek waits for me to send the form and will not tell me that my package is incomplete. I wait for the e-mail and Datek waits for the form. Result - NOTHING HAPPENS! We both wait. How can I take corrective action if I don't know that there is a problem? And, Datek (according to policy) won't tell me that there's a problem. Until today, after talking to your customer service representative, I did not know that Datek actually received my package. Without knowing this I did not know whether to resend a complete, brand new package (if Datek had NOT received the package) or just to send the missing form (if Datek HAD received the package). This policy needs to be changed. Customers need positive confirmation that Datek received the package and the status of the package (good or bad). Then when you activate the account, send a second e-mail. This is not a lot of effort to start a relationship that could go on for years. I understand that Datek has added new customer support representatives ("Brokers?") to improve service. This sounds like a great start. Best of luck in the future. By the way, I will be sending the missing form. Regards, Dan. -----Original Message----- From: Datek Online Customer Support [mailto:support@datek.com] Sent: Friday, January 29, 1999 2:29 PM To: Daniel Clark Subject: RE: Account Status (xxxxxxxxxxxxxx) Dear Daniel Clark, I appreciate the opportunity to respond to your e-mail. The response you were given was was accurate for the given question. It states that once we receive your application(since we did not receive it at this time) you will be given an account number. This is how you know that we have received your paperwork and that the account is active. It will be provided through e-mail. You may start trading once your account is active and the funds are placed in your portfolio. If we can provide you with further information please contact the Datek Online Customer Support Team at 1-888-Go-Datek (463-2835) or e-mail support@datek.com. Sincerely, Lisa Weber Customer Support Datek Online Brokerage Services Corp. Member NASD/SIPC/ Boston Stock Exchange -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Please use xxxxxxxxxxxxxx as the reference number for this message. -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Original message follows: ------------------------- Your response is not positive. This is obviously a canned response. If you had read my e-mail, you would have noticed that I DID send in my completed account documentation last Monday (1/18). I was asking for the current status. Please respond with: - Yes, we have received your documentation and your account will be ready for trading on____ - No, we have not received your documentation yet - Something else... Regards, Dan Clark -----Original Message----- From: Datek Online Customer Support [mailto:support@datek.com] Sent: Monday, January 25, 1999 7:57 AM To: Daniel Clark Subject: Re: Account Status (xxxxxxxxxxxxxx) Dear Daniel Clark, I appreciate the opportunity to respond to your e-mail. An account number is assigned when the completed account documentation is submitted to Datek Online. It will be sent to you via e-mail. In the interim, include your UserName on any correspondence to Datek Online. If we can provide you with further information please contact the Datek Online Customer Support Team at 1-888-Go-Datek (463-2835) or e-mail support@datek.com. Sincerely, Lisa Weber Customer Support Datek Online Brokerage Services Corp. Member NASD/SIPC/ Boston Stock Exchange -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Please use xxxxxxxxxxxxxx as the reference number for this message. -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Original message follows: ------------------------- Hello, I'm just checking in to find out the status of my account. On Monday of this week, I sent in the completed application forms to set up and fund my IRA account. The funding will be a transfer from my current IRA account with Fidelity Brokerage Services. Obviously, I'd like to get started as soon as possible. About how long will it take to set up my account and transfer the money from Fidelity, so that I can start trading? Thanks and regards, Dan.

To: Peter Stern who wrote (11027)	2/17/1999 11:17:00 AM
From: RockyBalboa	Respond to of 16892

Datek doesn't know the stock symbol for Digital Lava (DGV) per now, 11:15. Does it come soon? C.

To: Peter Stern who wrote (11027)	2/20/1999 2:11:00 PM
From: AS Hibbs	Read Replies (1) \| Respond to of 16892

All Profits - Wow, I'm rich! Well, Datek set me a 1099-B. Since I do mostly shorts, nearly every line shows the proceeds from the short sale, but never notes that I had to buy them back. This makes my net profit huge. Since the 1099-B does not show my purchases (only sales), is it safe to assume it is incorrect or do I need to come up with each and every buy myself and append them? Thanks Scott Hibbs

To: Peter Stern who wrote (11027)	3/8/1999 9:38:00 AM
From: Gorak Shep	Read Replies (2) \| Respond to of 16892

Peter, NASDAQ quotes last values, volume, etc are frozen at Friday's close. Please fix this.

To: Peter Stern who wrote (11027)	3/9/1999 10:23:00 AM
From: Gorak Shep	Read Replies (1) \| Respond to of 16892

Datek's NASDAQ quotes have been WRONG all morning. Last trades have been way outside bid/ask since the opening. When will this be fixed? I've seen no messages on the Messages Page about this. Is this a NASDAQ problem or a Datek problem? Geez, everyday something is screwed up.

To: Peter Stern who wrote (11027)	3/10/1999 9:45:00 AM
From: Gorak Shep	Read Replies (1) \| Respond to of 16892

Datek, WHAT DID YOU DO TO SCREW UP THE MORNING QUOTES? Again, the last trade prices are badly lagging the bid/ask on many NASDAQ quotes. This was true for more than the first hour yesterday and now it is happening again. You act like a firm that has been in business 3 weeks rather than 3 years. Get a clue. This is unacceptable and irresponsible.

To: Peter Stern who wrote (11027)	3/19/1999 10:08:00 AM
From: Moonray	Read Replies (1) \| Respond to of 16892

Just ANOTHER day in Datek land. Nasdaq quotes WRONG for over 1/2 hour. o~~~ O

To: Peter Stern who wrote (11027)	3/22/1999 1:43:00 PM
From: Michael Coley	Read Replies (3) \| Respond to of 16892

RE: Problems with Deposits to new Address? Has anyone had problems with checks sent to the new address? I've been a very happy Datek customer for a couple of years. I've been very impressed by their execution speeds, prices, and margin rates. Almost two weeks ago, I sent a check to the new address for deposit to my account. I had previously experienced an amazing two-day turnaround from the time I mailed the check to the time it was reflected in my account. This was my first deposit to the new address, though, so I wasn't sure what to expect. After a week, I started getting concerned. I e-mailed and called Datek several times and got a different story from each person I talked to. This morning, I initiated a trace through the post office. I also sent out another (smaller) check--this time certified mail with a return receipt. If my first check doesn't go through in the next couple days, I'm going to have to put a stop payment on it and re-send it. Has anyone else had this type of experience with the new address? - Michael Coley - bible-reading.com

To: Peter Stern who wrote (11027)	3/31/1999 9:29:00 AM
From: Gorak Shep	Read Replies (1) \| Respond to of 16892

Peter, I just noticed that the quotes on Classic servers orders3 and orders8 have been changed to look like the quotes on the newer servers. PLEASE, PLEASE, PLEASE put them back. The newer format takes up more space and is more cluttered. If people want this format they can use the newer servers. Those of us who wanted to keep the Classic servers want them the way they were. Anyone else disturbed by this?

To: Peter Stern who wrote (11027)	4/5/1999 9:31:00 AM
From: Gorak Shep	Respond to of 16892

Peter, I see that orders3 and orders8 are showing the classic style quotes again. Thanks.

To: Peter Stern who wrote (11027)	4/5/1999 10:19:00 AM
From: AS Hibbs	Read Replies (1) \| Respond to of 16892

Totally unacceptable. No confirmations for at least 10 minutes. No way to know if you had executed my order. You MUST get this problem fixed. Scott

To: Peter Stern who wrote (11027)	4/13/1999 10:08:00 AM
From: AS Hibbs	Read Replies (1) \| Respond to of 16892

Stern, this is stupid, no trading again this morning. I sit and watch all my stocks move without me. Some positions I have to exit, yet, your phones have 1/2 hour wait time and your servers don't work. I'd like to watch YOU trade with your own money using Datek. You'd be broke in a week. Scott

To: Peter Stern who wrote (11027)	6/10/1999 9:40:00 AM
From: Gorak Shep	Read Replies (2) \| Respond to of 16892

NASDAQ quotes Last Trade and Volume are wrong for the 3rd straight day. Datek, what's with you guys? Failure is one thing but not getting it fixed over 3 days is simply pitiful.

To: Peter Stern who wrote (11027)	6/22/1999 10:30:00 AM
From: Gorak Shep	Read Replies (1) \| Respond to of 16892

Beware express server 16. Its Daily Activity is not showing all the orders I entered that show on express 17. 16 responds but with inaccurate information. After waiting several minutes for an order to appear, I checked express 17 and there it was. But it still isn't on 16 several minutes after that.