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Non-Tech : The Island ECN

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To: Morpher who wrote (8)	10/13/1997 8:55:00 AM
From: Jeffrey Citron	Read Replies (1) of 202

Datek Securities is a client of our firm(Smith Wall Associates LLC). Datek Securities Does not ownThe Island ECN(ISLD), Currently Datek Securities is the sponsor firm for ISLD. Iin a couple of weeks ISLD will become its own fully independent Broker Dealer. At this time, Datek Online represents less then 20% of the orders in ISLD. Confidentiality of our client list is very important to us and our clients. I am sorry but it is up to our clients to indicate to you if thier orders are being routed to us. I will tell you that evry single market maker, and non market maker has acces to us via the NASDAQ SelecNet linkage. Most of the new features are still in beta, but we hope release the new spec for production in a week or two. I imagine it will take a few more weeks for our clients to start implimenting the new features. The reduction of SelectNet fees will make ISLD even more atrractive to non subcribers coming though the NASDAQ SelectNet linkage. Jeffrey Citron Smith Wall Associates LLC The Island ECN . . . the power to move the maket

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