Take a look at the report:
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For the period 10/1/97 to 12/31/97
Trading Days Included: 64
1a) Number of Shares Executed: 1,665,035,070
1b) Number of Executions: 2,706,360
1c) Monetary Value of All Transactions: $61,216,182,842.38
2a) Total Number of Orders Entered: 8,228,220
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The Island ECN
Report 17a23 Quarterly Filing
Part II
For the period 07/01/97 to 09/30/97
Trading Days Included: 64
1a) Number of Shares Executed:
1,095,257,593
1b) Number of Executions:
1,820,570
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The most recent published report is six plus months old. During the period 10/01/97 to 12/31/97, Island executed nearly 150% of the transactions that were executed in the period before. It looks to me like they are experiencing explosive growth. I have not seen any financials for the company, but I can tell you that I saw nearly 200,000 transactions on their system by 11:00am on the day that I visited them, and was told that they are doing just a little under 500,000 transactions per day.
Perhaps the person showing me the system defined a transaction as an order rather than an execution. I am looking forward to seeing the next 17a23 filing when it is released. Then we will know for sure!
Regards,
Michael Turner
Author
DayTrading into the Millennium
tradersresource.com |
