Back to Basics for Hotshot Trading System With Volume Below Expectations, OptiMark Under Pressure
Traders Magazine, July 1999
Since the January debut of the OptiMark Trading System, officials of the Durango, Colo.-based company that designed the machine, say it is making headway in the crowded field of alternative trading systems (ATS). As evidence, OptiMark proudly cites the 650 traders who regularly use the system, as well as the 2,000 traders schooled to use the superanonymous black box-style computer.
To be sure, these numbers compare favorably with the rival ATS subspecies known as electronic communications networks. The Island ECN operated by Iselin, N.J.-based Datek Online Holdings, for instance, has some 200 users connected, though it is largely targeting retail trades and not the institutional customers OptiMark mostly wants.
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