Maybe you're getting ripped Chis. Some firms like IB offer all-in rates...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.
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. http://www.isld.com/corp/press/pressreleases/release20020515.asp -Eric
The Street.com article mentioned that the merged company would be a powerful threat to SuperMontage. Can anyone explain how that would work?
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.
arbtrader, 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. Islandâs 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. Fohat
chasinfla, 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.
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)
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.