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Datek Financial Services history
Datek Financial Services company history timeline
Datek Online was launched in June 1996 as an online trading firm.
Maschler, who left Datek in 1996, was fined $675,000 and suspended from trading for one year in December of that year.
Citron was fined $20,000 and suspended for 20 days in 1996.
1996: Datek opens a unit for Internet retail trades.
Datek itself was sued in 1997 by a petroleum company that contended the securities firm had collaborated with six foreign investors to manipulate its stock.
By 1997 Datek's profits from day trading were waning due to new NASD rules and also because so many other firms had either licensed or imitated the Citron-Levine software programs.
Datek Securities was restructured as Datek Online Holdings in February 1998.
Net income was about $1.5 million in 1998.
In May 1999 Vulcan Ventures joined with two other investors, Group Arnault, a French private holding company, and TA Associates Inc., a Boston private investment firm, to offer Datek $300 million in exchange for a minority stake in the company.
In July 1999, the firm became the first to offer extended-hours trading sessions.
1999: Datek Online is the fourth largest Internet broker.
That same year it was named one of the "Best of the Web" by Forbes, rated number one for the third year in a row in the Online Broker Survey 2000 by TheStreet.com, and named the top online broker by PC Computing.
The NASDAQ experienced the largest one-year drop in its history in 2000, and many Dow Jones Industrial Average stocks posted losses.
By 2001, the trading system served more than 500 subscribers and executed one out of every six trades on the NASDAQ.
While the market remained unstable into 2001, Datek pledged to continue developing innovative products and services that would keep its online trading customers informed of market conditions.
"About Datek." Iselin, NJ: Datek Online Holdings Corp., 2001.
"Datek Online Brokerage Services LLC ." Gale Encyclopedia of E-Commerce. . Retrieved May 23, 2022 from Encyclopedia.com: https://www.encyclopedia.com/economics/encyclopedias-almanacs-transcripts-and-maps/datek-online-brokerage-services-llc
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Datek Financial Services competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Concord Wealth Management | 2013 | $2.6M | 125 | - |
| Jsc Federal Credit Union | - | - | - | - |
| Toyota Financial Svc | - | $12.1B | 3,600 | 94 |
| GFI Group | 1987 | $924.6M | 2,062 | 173 |
| Xoom | 2001 | $159.1M | 200 | - |
| Bowne & Co | 1775 | $781.9M | 3,000 | 13 |
| Cardiff Lexington | 1987 | $3.7M | 72 | 12 |
| B.S.I. | 1873 | $656.3M | 5,089 | 40 |
| EdFund Inc | 1997 | $130.0M | 750 | - |
| Gcg | - | $600,000 | 30 | 176 |
Datek Financial Services history FAQs
Zippia gives an in-depth look into the details of Datek Financial Services, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Datek Financial Services. The employee data is based on information from people who have self-reported their past or current employments at Datek Financial Services. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Datek Financial Services. The data presented on this page does not represent the view of Datek Financial Services and its employees or that of Zippia.
Datek Financial Services may also be known as or be related to Datek Financial Services and Datek Online.