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Instinet Faces Rocky Times: An Executive Departure Highlights Woes

Traders Magazine, April 2002

Gregory Bresiger

Whither Instinet? The prob lems of this ECN are about the same as those other alternative trading systems are facing these days: low trading volumes, declining profit margins, a stock market that has turned sour on the once strong stock and a new trading platform that many ECN officials fear will hurt them. "They're in a tough spot. There's no doubt about that," according to Adam Townsend, a securities industry analyst with J.P. Morgan.

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