Commentary

Jared Dillian
Traders Magazine Online News

Was it Worth It?

In this piece from 10th Man, author Jared Dillian discusses how the ETF revolution is less about ETFs and more about indexing; about how people have come to view stocks less as stocks and more as blobs of stocks.

Traders Poll

Would you feel better if the Chicago Stock Exchange were purchased by U.S. firm or consortium rather than a foreign one?




Free Site Registration

April 30, 2001

ECN's Wild Ride With Andretti

By Sanford Wexler

Archipelago ECN has signed a three- year multi-million dollar marketing contract with Team Motorola, the group which puts Michael Andretti at the wheel in one of race car driving's most televised events.

The Chicago-based ECN could reap invaluable publicity as Andretti hits the course during the 2001 CART FedEx Championship season. The event is carried by the ABC network and ESPN. It concludes in early November in Fontana, Calif.

Archipelago, which will become the first ECN to metamorphose into a full electronic stock exchange, pending regulatory approval, signed on as an associate sponsor of Team Motorola for this year's season. (Motorola is the primary sponsor.)

Archipelago gets its logo on Andretti's uniform and the number 39 Motorola Honda-Reynard he is driving. Andretti is the 1991 CART Champion.

"We see some similarities between auto racing and our businesses," said Archipelago's chief executive, Jerry Putnam. "There's the combination of speed and technology. Competition is really stiff in auto racing and we are looking to stiffen the competition in the stock market." Putnam did not disclose the exact dollar amount involved in Archipelago's sponsorship.