DJN: PRESS RELEASE: Instinet To Publish NASDAQ Intermkt Quotes (Dow Jones 11/01 15:41:11) NEW YORK--(BUSINESS WIRE)--Nov. 1, 2002--Instinet Group Incorporated (Nasdaq: INET) announced today that on Monday, November 4th, Instinet Corporation will start publishing quotes in NASDAQ's InterMarket system for the two largest Exchange Traded Funds (ETFs): QQQ and SPY, joining the National Market System in those instruments. This development will provide increased transparency and liquidity to the entire marketplace. T The main purpose of this initiative is to benefit Instinet's customers by giving them the ability to interact with other pools of liquidity. Instinet Corporation will be offering a special promotional rate for trading SPYs during the week of November 4 through November 8. Instinet customers are urged to contact their customer service representatives for additional information. "Instinet is committed to providing institutional investors with the most effective and efficient execution services in the world. We believe the enhanced liquidity and transparency offered in these instruments will be beneficial to our clients and the market as a whole. As a result of our initiatives today, we hope to attract even higher levels of liquidity to the Instinet platform," commented Jean-Marc Bouhelier, Instinet's Chief Operating Officer.
It seems to me that they are giving in -- joining the crowd -- and using the slower NMS. How can we front run the other exchanges if they do this kind of stuff? I wonder if this is a sign for ISLD as well?