Word: datek
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Dates: during 1997-1997
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Imagine the frenzy at Charles Schwab & Co., the nation's largest online brokerage house, as it attempted to handle the siege of 1.5 million customer inquiries--three times its normal volume. Or at the boutique E-shop Datek, which handled more than 20,000 transactions, double its usual load. Similar scenes were played out in a dozen online brokerages across the country as Net users took to their computers to buy and sell stock. Whatever else the "Correction of '97" signifies, it will surely be remembered for finally sanctifying online money managing...
...Alex Goor, Vice President of Datek, an online brokerage with 50,000 accounts and $500 million in assets, proclaimed that Monday "will go down in history as the day people learned that the only way to invest was online." And financial services with even a 15-minute delayed update are "a thing of the past," says Quote.com's CEO Tom Henry. "It's the equivalent of reading quotes in the Journal the next...