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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: TFF who wrote (8697)1/30/2001 10:22:07 AM
From: LPS5  Read Replies (1) of 12617
 
You know, TFF, I gotta tell you...the lack of interest that many financial institutions seem to have in ECN participation (for a few reasons) and the inability of ECNs to develop a synergistic level of liquidity in listed issues makes me believe that forecasting the demise of stock exchanges is at best premature. I think that, instead, we'll see ECN/exchange partnerships and exchanges developing their own systems of the ECN sort. And sure, I'd imagine that we'll probably see a few IPOs of exchanges and ATS' in the next 10 years or so as well.

But the demise of stock exchanges at the hands of, or as a result of, the continuing popularity of ECNs? I really don't see that happening anymore. IMO, it's far more likely that we'll see some heavy duty consolidation and restructuring, with the large names - NYSE, NASDAQ, etc - surviving.

LPS5
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