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Is Nasdaq buying BRUT??

  1. Someone just said they heard this on the TV...
    Any truth to it?
    Anyone have a link?

  2. I guess NYSE will have to buy Island.
  3. island/instinet is going to buy NYSE. Wait a minute can you buy a 'not for profit' company? Maybe the ole' boys won't go for that after all.

  4. Can't be good news for Boston Exchange...

    Damn, I like Brut too, much better than SuperMontage.
  5. On an un-related note for you Naz traders, do you know if the SIZE function is proactive?? i.e takes out bids and offers and then posts the rest?
  6. yes
  7. "The Brut acquisition is intended to enhance NASDAQ's systems by providing NASDAQ with the ability to route orders via an internal broker-dealer to multiple liquidity pools in keeping with changes proposed by Reg NMS"

    Does anyone understand this ?
  8. It means Nasdaq is going to castrate Brut like Instinent did to Island.


  9. Not Really but they could purchase a Broker Dealer for 40K. They must need the BRUT ECN technology.
  10. So all you Naz traders, you saying it is bad or good?
  11. well, NAZ getting their hands on anything is probably a bad thing. Just look at SuperMontage! That being said, I can't see them making too many changes that would destroy BRUT's liquidity.

  12. Before we know it the only ECN's left will be INET (Instinet) and NASDAQ (Brut and rumors of ARCA):mad:
  13. bruts technology sucks, they are not after that. They want bruts volume; this is a systematic way to get volume and eliminate competition.

    Bottom line is ECN competition produces lower fees for the end user. The nasdaq/(notso)supermontage is basically an ecn and they want all the volume. Volume = power. Pricing and otherwise.