The Mother of all IPOs
Traders Magazine, July 1999
Aplethora of firms operating so-called electronic communications networks (ECNs) is shaking up competition among traditional stock exchanges in the U.S. as never before.
At the moment, the volume of stock orders matched electronically by ECNs is just over 30 percent of overall U.S. equity order flow. Before the onslaught of ECNs about two years ago, one computer system, Reuters Group's Instinet, electronically matched around 20 percent of Nasdaq order flow. Significantly, Instinet still matches roughly 15 percent of Nasdaq stock orders though its overall volume has increased.
All TradersMagazine.com articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.