Free Site Registration

The Amazing Loss of Control: Pushing the sellside around?

Traders Magazine, May 2005

John A. Byrne

The tide is turning for Nasdaq, the electronic stock mart that once got whipped so badly by regulation, ECNs and a brutal market, that it seemed close to drowning in a sea of red ink. Now it is back playing in the big leagues again, having signed a deal to acquire INET from Reuters in a $934.5 million transaction for Instinet that had an overall value of $1.9 billion. The deal is expected to take about six months to close. So, with this giving Nasdaq a market share of perhaps between 65 percent to 75 percent in the trading of its own listed stocks, more bells and whistles and places to cut overlapping services, what does it do for the very foundation stone of this once quixotic marketplace? Wither the Nasdaq market maker?

Get access to this article and thousands more...

All articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.

Already Registered?