Instinet to Buy Rival Island for $500 Mln

Discussion in 'Order Execution' started by just21, Jun 10, 2002.

  1. The merger will go through. If they let REDI and ARCA merge why not INCA and ISLD? The rates posted earlier are for TAKING liquidity. You get paid for adding it. Adding it is cheaper on the rate as well as that you save at least a cent getting in and out. Be on the MM side and buy on bid and sell on offer. Just be right about what direction the next move is going to be.
     
    #11     Jun 10, 2002
  2. That's all. Just be right.

    Is anyone making money doing that?
     
    #12     Jun 10, 2002
  3. There may well not be any antitrust issue raised here. But the fact that REDI and ARCA were allowed to merge does not necessarily justify this merger. For one thing, they were smaller players, perhaps numbers three and four in the ECN universe with single digit market shares. They could have used the need to get bigger to compete against ISLD and INCA as a justification for the merger. The same reasoning not only doesn't apply to the proposed ISLD/INCA deal, it argues against allowing it.
     
    #13     Jun 10, 2002
  4. fwiw...i agree with bung...this is a life preserver for inca. why would island take 1/2 bill in their stock...oh well. They did pretty good for a couple of kids from the hamptons...
     
    #14     Jun 10, 2002
  5. Yes! Oddly enough, being right is the only way I can make any money...:D

    PS - Like me new signature, chas?
     
    #15     Jun 10, 2002
  6. from nasdaq, here is their market share a/o april:

    Date ATS Trade Volume
    Apr 2002 Instinet 12.5%
    Apr 2002 Island 2.8%
    Apr 2002 Redi-Book 8.6%
    Apr 2002 Archipelago 5.9%
    Apr 2002 B-Trade 2.3%
    Apr 2002 Brut 3.7%
    Apr 2002 NexTrade 0.3%
    Apr 2002 Attain 0.3%
    Apr 2002 MarketXT 2.6%
    Apr 2002 GlobeNet 0.0%
    Apr 2002 Total ECNs 38.9%

    ISLD really dropped recently, in Jan it was:

    Date ATS Trade Volume
    Jan 2002 Instinet 9.9%
    Jan 2002 Island 22.8%
    Jan 2002 Redi-Book 8.2%
    Jan 2002 Archipelago 5.6%
    Jan 2002 B-Trade 2.6%
    Jan 2002 Brut 2.5%
    Jan 2002 NexTrade 0.2%
    Jan 2002 Attain 0.2%
    Jan 2002 MarketXT 0.9%
    Jan 2002 GlobeNet 0.0%
    Jan 2002 Total ECNs 53.0%


    pulled from Nasdaq's site
     
    #16     Jun 10, 2002
  7. VOLUME

    VOLUME

    Apr 2002 Island 2.8% ?

    I don't think this number is correct.
     
    #17     Jun 10, 2002
  8. wassup bung?

    ummmm...what i meant was, is anyone making, taking home, money playing the liquidity game?
     
    #18     Jun 10, 2002
  9. Babak

    Babak



  10. I fail to see how fewer competitors results in lower rates...
     
    #20     Jun 10, 2002