Major News - Redi & Arca

I can finally say something about one of the main reasons why we have been so strongly supportive of the Redi system...they (the Goldman Sachs Board, and SLK), have merged together with Archipelago to form the single biggest and best ECN in existance. This is a major reason why we (Bright Trading) have loosened our reins and lowered our costs for NASDAQ and NYSE trading starting in 2002. (Some of you may know that it is hard for me to keep things quiet, and this has been tough!).

The "big-whigs" are in Vegas today to meet with us to fill us in on the details, so we can better serve our traders.

Read the complete article in the WSJ. This is great for all Redi traders (and those that will soon be!).

 

This is GREAT news!! I heard rumblings of it yesterday. That will be a nice pool of liquidity.

JB

 

This is news to me. What are Bright's new NYSE and Nasdaq costs going to be in 2002?

 

Don,
So will the Redi user/trader be able to choose his platform, either Realtick or Redi-Plus?

 

This may not be good for Cyber customers because the ECN fee structure there. The merged entity will keep the ARCA name.

ARCA: .005/per share
REDI: .002/per share




http://www.tradearca.com/news_and_views/releases/releases_11_29_01.asp

 

Our pricing is straight forward, and we do not charge ECN fees, but because of this greater access and additional liquidity, we have been able to cut NASDAQ fees by 20% (now a penny or less, no ecn fees, and our NYSE pricing is much improved as well).

I am really happy that the news is out, but I am trying to not post "marketing" stuff here (pricing and all of that). Check our website in the next few days, or send me a personal email for info.

 

"Since you asked" - It appears that the names are going to stay the same with the combined ecn to use the ARCA symbol (via their network at the PSE, and the overall Redi network).

Again, thanks for the "personal questions" about how it is helping our traders and all. I will try to post the answers to the basic questions here on the board for a day or so.

 

My experience with both ECNs has been that ARCA is much slower in terms of execution speed then the other ecns.(I trade with IB) Hopefully, the new combined entity will rely primarily on redi's execution network.

 

Don, are you saying that on a level 2 screen only ARCA will be displayed and not REDI anymore, or will both be still shown?

 

Don, What if my platform only supports ARCA?