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Subject:  Datek Keeps Word Date:  10/11/1997  6:16 PM
Author:  rickisme Number:  708 of 50505

Now just sit down everyone and hold on to your hat, you won't believe this but Datek actually kept their word. They say that if they don't execute your order within a minute, they won't charge a commission. They have a few exceptions, one of which I thought was just their way of getting out of not living up to their promise. They say: "One minute starts with 'work time.' This is the time that Datek begins to process your order. 'Work time' may differ from the time that you confirmed the order. This difference can be attributed to internet and system routing."

On Friday, I placed a market order for some INTC and I wasn't getting the usually speedy confirmation. So I checked the price and it didn't change much, then checked again to see if my order was confirmed - still no confirmation. Since it was a market order, I was a little worried and considered cancelling but hung in there instead because when I kept checking the bid and ask, there wasn't a change. Anyway, about three minutes later ( a lifetime for a daytrader), I received confirmation and the order was at a price more favorable than I had expected AND when I received the E-mail confirmation, they DID NOT charge me a commission. Just wanted you all to know this. Still happy with DATEK.


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