How this will affect you : No longer ETF trading on ISLD

Discussion in 'ETFs' started by North Pesos, Sep 21, 2002.

  1. How this will affect the trading with this new SEC rules for to protect AMEX market:


  2. Sounds to me like the e-minis are about to get a whole lot more popular. CME / Globex must be grinning ear to ear over this new one.
  3. As I understand the press release, Island is only pulling the ability to see its order book. However, I believe the aggregate best bid and offer will still continue to appear on Nasdaq Level II. Can anyone verify this?
  4. dereksas


  5. thanks for the proper thread info.
  6. It looks like IB won't even display Island quotes. This has me looking more at NQ. This sure is a dirty game sometimes. I don't know how anyone can believe that the SEC has any concern for the individual trader or investor.

    Dear IB Trader:
    Due to regulatory action taken by the SEC against Island, Island will no longer be able to disseminate its quotes on the QQQ, DIA, SPY, SMH, and MKH Exchange Traded Funds (ETFs) as of Monday, September 23rd. This means that the Trader Workstation will no longer display Island quotes and that Smart Order Routing will no longer consider Island as a destination for the aforementioned tickers. IB will continue to route to the NYSE, Redibook, Instinet, and Arca, and will display market data for these destinations as well as the Amex. In addition, customers may continue to send limit orders directly to Island without knowledge of Island's quotes. For additional information, see

    -Interactive Brokers
  7. This is blatent anticompetitive BS. Call your congressman.
  8. this dooms isld imho.
  9. Rather than focusing on eliminating competition through regulation, the specialists should consider earning business through better and faster executions. . .but I guess that won't happen.

    Don't think it will doom ISLD because they have so much other business with individual stocks, also the merger with INCA. But, it sure will put a dent in their business if not resolved. The whole thing blows my mind!
  10. Nick is no dummy. Maybe he'll buy a basketball team with the profits from the sale. Some people know when to get out.
    #10     Sep 21, 2002