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.

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April 30, 2003

Another ECN in OTC Drama

By Staff Reports

Is it another pending blow to Nasdaq and the SuperMontage?

Some will see it that way. Brut ECN may eventually move all of its internalization business to the Boston Stock Exchange in a cost-saving move.

Brut, owned by SunGard Data Systems, has been a major client of the SuperMontage. But Brut said it is considering the same strategy as Island/Instinet, which is recording its OTC transactions at the Cincinnati Stock Exchange.

Nevertheless, the Boston exchange said it had delayed the rollout of its planned Nasdaq stock trading program, casting doubt about the move planned earlier by Brut. In a recent letter to subscribers, Brut had said the switch would not hurt execution standards.