Instinet to Buy Rival Island for $500 Mln

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

  1. InyOutty


    Maybe you're getting ripped Chis. Some firms like IB offer all-in which case you'd pay nothing (0) for all ECN fees.

    But obviously the ECN pass-throughs you pay is meaningless because your base commission could be 2 cents a share for all I know. And don't forget, some people make a nice living from ECN rebates--which you don't receive I would imagine.
    #21     Jun 10, 2002
  2. EricP


    This is misleading data. ISLD's market share in Nasdaq has continued to grow and they remain the #1 ECN. The data put out by Nasdaq shows a lower market share, reflecting that most of ISLD's trades are now reported through the Cincinatti exchange, and not through ISLD.

    #22     Jun 10, 2002
  3. The article mentioned that the merged company would be a powerful threat to SuperMontage. Can anyone explain how that would work?
    #23     Jun 10, 2002
  4. Instinet doesn't participate in the supermontage. Island does, but maybe now it will become Instinet. These two ecn's together could draw a lot of liquidity out of supermontage. -and i hope so, as supermontage is unfair to non-mm's, due to the price time fee rule.
    #24     Jun 10, 2002
  5. Fohat



    Island is the largest ECN for sixth Consecutive month :

    "Island ECN... that for the sixth consecutive month it was the largest electronic marketplace for Nasdaq securities, with 11.2% of Nasdaq share volume and 21.2% of Nasdaq trade volume.
    Island’s 11.2% market share of total volume during April 2002 was achieved by reporting 1.9% of all Nasdaq shares traded through Nasdaq, ... while reporting an additional 9.3% of total Nasdaq shares traded through the Cincinnati Stock Exchange (CSE)."

    Island is reporting most of its' trades through the Cincinnati Stock Exchange (CSE). That's why the reported remainig % of shares traded through Nasdaq is low . Island is the largest ECN.

    #25     Jun 10, 2002
  6. Island kicks butt. I wish I invented it.
    #26     Jun 10, 2002
  7. Babak



    don't take this the wrong way but why do you quote someone when you are going to add a simple thought or two? Its just that I've seen you do this over and over again. I mean its not like he posted 5 pages previously so we would forget and you would have to reminds of what he said....?!?! I scroll down from the quote which is what the poster just above you has said and you've added one or two sentences!?!

    sorry, but its a bit annoying.
    #27     Jun 10, 2002
  8. what are you talking about?:p

    no, i agree, it's thoughtless and annoying. thanks for pointing it out.
    #28     Jun 10, 2002
  9. Babak


    chasinfla, I'm glad you didn't take it the wrong way. :)

    and thanks for the edit!

    and yes Island does kick some serious ass (I sincerely hope that it won't misplace its spinal cord and start kissing some serious ass)
    #29     Jun 10, 2002
  10. I long ago stopped using INCA, because of delays of fills. Trade on ISLD or REDI, and boom your done. INCA, sometimes I had to wait what seemed an eternity - 30 seconds or so. Or my order never got confirmed and my broker had to call Instinet to find out what happened and I had to wait 20 minutes.

    Maybe INCA's better today. I hope INCA can maintain ISLD's response time if a merger gets done.
    #30     Jun 10, 2002