Island Pulls the Plug. Instinet Next?
Traders Magazine, February 2002
Island ECN, which recently topped thepoll as the largest ECN as measured by Nasdaq volume, may be attempting to outflank its would be competitor. Island said it is cutting its execution fees dramatically, from 2.5 cents to 1.9 cents per 100 shares. It is increasing its liquidity rebate from 10 cents to 11 cents for 100 shares.
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