Traders Magazine, February 2000
Spear, Leeds made headlines last August when it announced it would partner with Charles Schwab, Fidelity Capital Markets, and Donaldson, Lufkin & Jenrette in the operation of its REDIBook ECN. The prospect of all those retail orders flowing into the small ECN made the Street take notice.
The deal is now set. REDIBook ECN LLC is now a NASD-approved broker dealer owned by the four partners. SLK will also operate the system. Randy Frankel is a board member as is Lon Gorman from Schwab; Peter Cohan from DLJ; and Bob Mazzarella from Fidelity.
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