Saw the pre-open session did 4.5 million+ today (not including any possible NASDAQ stocks). It is usually the kiss of death to any volume streak when I mention the volume as the following day is usually under 100 thousand shares.
Also received the annual report for FY 2001 today.
The cover letter had a few highlights which I listed below. I also had a few questions.
+ July introduced premium guarantee program to certain institutions through Croix Securities. (Does this mean only certain institution qualify for this program, or it, like regular eVWAP, is an on going process, and so far they have only been able to enroll some clients so far?)
+ In cooperation with the PHLX, ATG has developed a plan to add NASDAQ stocks to the eVWAP system, introduce a second matching session after the market opens, and to launch Market on the close this Fall.
+ Expect to begin offering multiple matching sessions and NASDAQ stocks through Croix Securities while PHLX approval is pending SEC. (multiple matching sessions?)
+eVWAP TSE will begin this year. (9/17/01 last time I checked with TSE directly.)
+100 million shares of liquidity now available to institutional clients and by end of Sept they expect to add several more broker dealers to further increase liquidity.
(Any chance those now jumping on the liquidity band wagon once opposed or could care less about this trading system? Assuming profit is motivation for changing once mind, this development is interesting as the system may be obtaining some level structural support.)
Few other bits on the positives.
+ In response to customer requests, ATG is working with the PHLX to.......obtain the eligibility for exchange traded funds, or ETSs on the eVWAP? (What is an ETS?)
ATG has developed a plan to introduce the iMatch system? iMatch represents a global distribution network of independently licensed and operated intelligent matching systems incorporating value-added front end, routing services, and execution hosting capability. The execution capability includes the eVWAP for NYSE-listed and NASDAQ stocks, market on the close for NYSE and NASDAQ stocks, intra day trading products (SemiContinuousMarket) international stocks, a ticker plant with related data services, an and interactive central limit book with blind auction and online negotiation feature. To be introduced in Canada in the Fall of 2001 and in the US shortly thereafter. |
