--Scalpers and the ISLD ECN--

Discussion in 'Order Execution' started by Pound, Sep 24, 2002.

  1. #31     Sep 26, 2002
  2. dereksas


    My understanding of the Reg is that it only applies to those market participants who account for greater than 5% of the total volume in 4 of the past 6 months. This would not apply to ARCA or REDI. Although as I pointed out, ARCA is now >5%, so I would imagine they have 4 months to go before being in a similar situation.

    #32     Sep 26, 2002
  3. mathewt

    mathewt Guest

    Instinet was 4.8% of the QQQs last month.

    The last few days they were 10-12% of the QQQs and 12-17% of the SPY.

    So I guess the 4 month count starts now. Hopefully they work something out in the next 4 month before the get shut off like Island.
    #33     Sep 27, 2002
  4. Why cant Island or Instinet create their own ETF's ???? and list them on Nasdaq ??

    and I know Nasdaq is planning their own ETF's -- but do not know when they are expecting to have them available - The SEC will probably hold them off as long as possible !!!
    #34     Sep 28, 2002
  5. Babak


    If the trend started continues they (Amex) will be killing the QQQ. That is assume that other ECNs come in and fill the void but in doing so go over the 5% threshold and as a consequence they will be shut out. Leading to the Amex as the only route.

    Take a wild guess what the volume on the cubes will be if Amex is the only one standing.

    I know these guys don't like competition but are they so stupid as to cut their own throats?

    BTW did you guys catch that the SEC recently hired a former Anderson director? God I hate Pitt.
    #35     Sep 29, 2002