Knight/Trimark Group, Inc. Message Board

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Non-Tech : Knight/Trimark Group, Inc.

KCG 20.00

0.0%

Aug 17 5:00 PM EST

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To: Pigboy who wrote (2723)	7/22/1999 9:27:00 PM
From: GS_Wall Street	Read Replies (2) of 10027

How will ECNs compete with MMs. In the here and now they don't. MM provide better liquidity. And better pricing due to Order Flow. ECNs are less expensive ways to trade. Here and now ECNs get in the way, in other words you usually have to trade through them, to move a stock in either direction. ECN's by themselfs do not provide better pricing, all they do is get the price that you specify, you either get filled or you don't. I don't see any competion from the ECNs unless market machanics change dramatically, and I don't see that happening anytime soon.

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