Datek Direct and ECNs

Discussion in 'Trading' started by DtSec, Apr 13, 2001.

  1. DtSec


    Datek Direct calls itself a Direct Access broker.
    What a joke.

    One of the main reasons for using a direct access broker is the ability to post your limit orders on the ARCA, REDI, INSTINET book.

    Datek Direct gives access only to the Island order book.

    Datek Direct uses selectnet to hit orders on other ECNs but all orders are "immediate or cancel".
    So if there is nobody on the other side of your trade, your order is not posted on the ARCA/REDI/INCA order book.