ECHOtrade merging with Van Buren

Wow!!! That is big news!!! That is going to be one heck of a firm, two big boys like this coming together. Congrats to all involved, sounds like a big win for all the ECHO and VB people. I might have to check out the Santa Monica office, someone told me it is down by 3rd Street Promenade. Would make for a fun trading vacation there. :)
 
What exactly did Vito and Jeff mean when they say "proprietary trading tools at VB"? Does this refer to software or trading strategies or something else?
Thanks.
 
Originally posted by JeffreyECHO
We are very excited about the prospects of combining the talented teams and traders of our firms...... One of the first benefits all our traders will notice is that starting August 1, 2002, (the conclusion date of the merger) all ECN fees will be free.
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The trader gets more locations and software that works the way it should in the first place... I figure less competition for the trader dollars so less pressure on rates. Seems as if the benefit here is to the two firms being able to split overhead and make a few more dollars. Sorry to ruin the party or am I all wrong here? Seems as if this thread is being "spun" by four or five posters with a vested interest in this deal.
 
Those four locations Robert listed...doesn't Echo already have office locations there? Are there going to be two locations in each of those cities?
 
Originally posted by Speculator1929
The trader gets more locations and software that works the way it should in the first place... I figure less competition for the trader dollars so less pressure on rates. Seems as if the benefit here is to the two firms being able to split overhead and make a few more dollars. Sorry to ruin the party or am I all wrong here? Seems as if this thread is being "spun" by four or five posters with a vested interest in this deal.
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If there were less pressure on rates, then it doesn't explain why they are lowering rates (Eliminating ECN fees) right off the bat. It seems to me that in this market a lot of powerful firms are merging their back-office operations, probably a lot of it due to the cost savings involved -- ie: Datek and Ameritrade, also E-trade and Tradescape. Looks like just another merger along these lines. If they are creating a larger firm and lowering their costs through a merger and passing along those savings to the traders, I don't see where the "spun" part comes into play.

If they were hiking rates, eliminating software choices, or doing something at all detrimental to the traders and everyone was happy I would feel like it was "spun." But I think traders at either place truly realize only benefits from this. I have been looking for a downside and have yet to see one. That's my humble opinion at least.
 
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