Again!!- Instinet drops SPY

Discussion in 'Order Execution' started by resinate, Oct 1, 2002.

  1. just this AM at 10:01 Eastern from the Instinet site:

    "Message to Instinet Customers

    October 1, 2002

    Temporary Trading Suspensions

    At the end of September, Instinet has triggered volume thresholds in SPY and certain other small-cap listed securities that subject Instinet to regulatory requirements regarding public display and access. We had hoped to find a workable solution that would enable us to continue trading as normal while we come into compliance with these requirements, but we learned late yesterday that this would not be possible. Therefore, Instin et will temporarily suspend trading in these securities as of today.

    We will continue to work towards a solution that satisfies the needs of our customers within the parameters of the current regulatory framework and we will communicate more when we have additional information. If you have any questions, please call your Instinet representative."
  2. ddefina


    It's kind like Amex putting a gun to your head.
  3. If Harvey Pitt wasn't a fat slob, this would not be happening.
  4. This sucks, I just started trading the Spiders a month ago and the quotes I use only show island and instinet (through a prop firm, not a broker btw). Now I can't trade SPY at all, f*** you Amex!!! (Or the SEC, whoever is responsible for this)
  5. i heard they are not even members at the NYSE, making it more expensive for those of us who are customers of theirs
  6. I'm telling you it's the CME!