Herzog Heine, Nasdaq Market Maker, Enters Online Trading World
Herzog Heine, Nasdaq Market Maker, Enters Online Trading World
Jersey City, New Jersey, May 4 (Bloomberg) -- Herzog Heine
Geduld, one of the three largest market makers for shares traded
on the Nasdaq Stock Market, said it has begun taking orders over
the Internet.
E-Tiger, as Herzog Heine's new online trading service is
being called, lets securities firms and money managers place buy
or sell orders via an Internet browser linked to the Web site
www.herzog.com. It also allows monitoring of orders as they are
filled, the company said.
The Internet gives Herzog Heine -- whose trades account for
up to 10 percent on average of Nasdaq's daily activity -- a way to
offer ``a new level of convenience,'' President and Chief
Executive E.E. ``Buzzy'' Geduld said in a news release.
That could help the privately held, 74-year-old firm keep up
with younger, publicly traded rivals Knight/Trimark Group Inc.,
the largest Nasdaq market maker, and Schwab Capital Markets L.P.,
a unit of discount broker Charles Schwab Corp.
Herzog Heine, based in Jersey City, New Jersey, said that the
E-Tiger system uses passwords and encryption technology to``ensure
that trade data is highly confidential.'' It also electronically
time-stamps and acknowledges each trade. |
