Commentary

Marianne Brown
Traders Magazine Online News

The Surprising Factor Financial Firms Need to Invest in To Accelerate Growth

When it comes to people, a firm's success relies on more than just the top contributors to the bottom line, according to FIS. In its latest report, shared with Traders Magazine, the firm says it actually found firms that are prioritizing investments in digital expertise are growing nearly twice as fast as their peers.

Traders Poll

In your opinion, what is the biggest hurdle facing the blockchain?

Cost of implementation

17%

Too many systems available

23%

Not applicable to my business

3%

Uncomfortable with the technology

33%

Nobody else is using it

23%

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July 31, 2002

Instinet Back in the Winner's Circle

By Staff Reports

Instinet, which was toppled last November by Island as the largest ECN, is back on top this summer.

It squeaked ahead of Island, having trailed its former arch enemy in recent months. Instinet had 12.7 percent of Nasdaq share volume in May, compared with Island's 12.4 percent.

Then in June the lead widened for Instinet when it generated 14.3 percent of Nasdaq volume, according to Nasdaq data. That compares with volume of 12.6 percent for Island. Island's volume includes the 1.2 percent of the Nasdaq share volume it reports directly to Nasdaq. The bulk of Island's volume - 11.4 percent - is reported on the Cincinnati Stock Exchange.

Instinet's comeback was helped by the introduction of rebates, discounting and new services and technology. Instinet has a new order routing system, Portal. [See Trading & Technology.]

Instinet and Island, former archenemies, plan to bury the hatchet. Instinet is proposing to acquire Island in a $500-million all-stock deal.