Holy Cr*p ISLD blocked from providing QQQ ,DIA, and SPY full book quotes

Discussion in 'Order Execution' started by stock777, Sep 20, 2002.

  1. They would have liked to shut ISLD down 4 years ago. They finally found a loophole to cripple it, at least as far as QQQ and SPY.
    #91     Sep 26, 2002
  2. well, the IRAQ issue is front and center. is the timing a coincidence? no enforcement on enron, wcom, tyco - but, lets get island!!!! who is working with pitt at the SEC: larry, moe and curly?

    as i said before, the curtain is open and we can see the wizard. they may get away with this crap for a bit, but the QQQ market can make itself. they cant argue that a stock trading 100,000,000 shares daily needs a specialist to make an orderly market. island and electronic trading proved that people are perfectly capable of placing and executing orders without paying the "vig" to the specialist. via an ECN the marketplace had more transparency with more reliable fills and prices. no "pending cancel" notices as the market moves away from you! no bad fills! no non-fills :cool: no sitting there watching bid .25 and ask .30, while prints go off at .20 and .35! what's up with that? then you get filled on your .26 bid after 2 minutes and the next instant the highest ask is .22 :eek: no one holds your order on island - the market is (was) relatively unfettered.

    we are not going back to bucket shops, we are not going back to telephone orders, extortionate commissions, to some guy running down to the floor with your order on a piece of paper. and, we are not going through the AMEX specialist (s) to trade ETFs simply because the SEC is corrupt.

    p.s. - news flash just in: the transportation department is outlawing pumping your own gas. everyone will have to pay a dime more a gallon to have it done by a specialist at the local gasoline station!!!!!
    #92     Sep 26, 2002
  3. wasn't this the Amex's attempt to come back from there?
    #93     Sep 26, 2002
  4. http://www.infoplease.com/askeds/7-17-01askeds.html
    #94     Sep 26, 2002
  5. NO INCA on SPY today. wtf.
    #95     Oct 1, 2002
  6. the REDI ECN of course, will be next, since everyone is now using it, which will make it go over the volume threshold.
    #96     Oct 1, 2002
  7. cashonly

    cashonly Bright Trading, LLC

    So if it's a "4 out of the last 6 months" thing, does that mean that ISLD will have it again in about 3 months because they're losing all that volume?

    And then will INCA and REDI cycle along as well?

    This is really screwy.
    #97     Oct 1, 2002
  8. dereksas


    ISLD has not lost nearly enough volume.

    #98     Oct 1, 2002
  9. alanm


    Seems like if REDI were smart, they'd halt trading whenever they reached 4.x% of the total volume so they can continue to stay in biz.

    Oh yeah. This is good for investors and the markets. Along with the margin BS that's going on. Unreal.
    #99     Oct 19, 2002
  10. I'm not a Spyder trader

    but how about a report from a few of the regular traders of Spyders of how they adapted?

    #100     Oct 20, 2002