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Technology Stocks : Track Data Corporation TRAC
TRAC 20.000.0%Oct 7 10:48 AM EST

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To: Jim Bishop who wrote (1671)5/15/2000 7:04:00 AM
From: LPS5  Read Replies (1) of 2005
 
Hey Jim,

Thanks - should be interesting to see what unfolds. All I know for absolute certain is: we're already beginning to see a trend w/i internet brokerage business models that values order flow by pricing market orders free and limit orders at increasingly cheaper prices. IMHO, one of the essential variables in the equation for an ECN or ATS to 'make it' - is very, very low pricing: a factor which, in accordance with AND as a result of that aforementioned heavy liquidity makes such bearable.

Less liquid ECNs/ATS' inevitably get caught in a vicious circle of needing to charge higher commissions to stay afloat, which keeps that momentum-building liquidity they seek in other, cheaper limit order books & matching systems.

LPS5
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