Instinet to Buy Rival Island for $500 Mln

Originally posted by MasterChiseler

we pay .0025 inca and free isld
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Maybe you're getting ripped Chis. Some firms like IB offer all-in rates...in which case you'd pay nothing (0) for all ECN fees.

But obviously the ECN pass-throughs you pay is meaningless because your base commission could be 2 cents a share for all I know. And don't forget, some people make a nice living from ECN rebates--which you don't receive I would imagine.
 
Originally posted by arbtrader
from nasdaq, here is their market share a/o april:

Date ATS Trade Volume
Apr 2002 Instinet 12.5%
Apr 2002 Island 2.8%
Apr 2002 Redi-Book 8.6%
Apr 2002 Archipelago 5.9%
Apr 2002 B-Trade 2.3%
Apr 2002 Brut 3.7%
Apr 2002 NexTrade 0.3%
Apr 2002 Attain 0.3%
Apr 2002 MarketXT 2.6%
Apr 2002 GlobeNet 0.0%
Apr 2002 Total ECNs 38.9%

ISLD really dropped recently, in Jan it was:

Date ATS Trade Volume
Jan 2002 Instinet 9.9%
Jan 2002 Island 22.8%
Jan 2002 Redi-Book 8.2%
Jan 2002 Archipelago 5.6%
Jan 2002 B-Trade 2.6%
Jan 2002 Brut 2.5%
Jan 2002 NexTrade 0.2%
Jan 2002 Attain 0.2%
Jan 2002 MarketXT 0.9%
Jan 2002 GlobeNet 0.0%
Jan 2002 Total ECNs 53.0%


pulled from Nasdaq's site
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This is misleading data. ISLD's market share in Nasdaq has continued to grow and they remain the #1 ECN. The data put out by Nasdaq shows a lower market share, reflecting that most of ISLD's trades are now reported through the Cincinatti exchange, and not through ISLD. http://www.isld.com/corp/press/pressreleases/release20020515.asp

-Eric
 
Instinet doesn't participate in the supermontage. Island does, but maybe now it will become Instinet. These two ecn's together could draw a lot of liquidity out of supermontage. -and i hope so, as supermontage is unfair to non-mm's, due to the price time fee rule.
 
arbtrader,

Island is the largest ECN for sixth Consecutive month :

"Island ECN... that for the sixth consecutive month it was the largest electronic marketplace for Nasdaq securities, with 11.2% of Nasdaq share volume and 21.2% of Nasdaq trade volume.
Island’s 11.2% market share of total volume during April 2002 was achieved by reporting 1.9% of all Nasdaq shares traded through Nasdaq, ... while reporting an additional 9.3% of total Nasdaq shares traded through the Cincinnati Stock Exchange (CSE)."

Island is reporting most of its' trades through the Cincinnati Stock Exchange (CSE). That's why the reported remainig % of shares traded through Nasdaq is low . Island is the largest ECN.

Fohat
 
chasinfla,

don't take this the wrong way but why do you quote someone when you are going to add a simple thought or two? Its just that I've seen you do this over and over again. I mean its not like he posted 5 pages previously so we would forget and you would have to reminds of what he said....?!?! I scroll down from the quote which is what the poster just above you has said and you've added one or two sentences!?!

sorry, but its a bit annoying.
 
chasinfla, I'm glad you didn't take it the wrong way. :)

and thanks for the edit!

and yes Island does kick some serious ass (I sincerely hope that it won't misplace its spinal cord and start kissing some serious ass)
 
I long ago stopped using INCA, because of delays of fills. Trade on ISLD or REDI, and boom your done. INCA, sometimes I had to wait what seemed an eternity - 30 seconds or so. Or my order never got confirmed and my broker had to call Instinet to find out what happened and I had to wait 20 minutes.

Maybe INCA's better today. I hope INCA can maintain ISLD's response time if a merger gets done.
 
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