That hurts!
arrogance? ARROGANCE?
Its really just that I get over 200 pieces of "personal" e-mail a day, and i cannot acknowledge every good idea.
indexes would be a good idea, and we hope to offer it someday.
some indexes, like the Dow Jones, would cost more money to provide in real-time for free to Datek Online customers, and there
are some contractual issues that need to be arranged.... alll in due time.
In the mean time we are all really busy generating much better system descriptions for our web site, getting real-time charts and news going (for free to our customers, of course) and working on improving our NYSE systems. Our goal is to get them to match or beat our NASDAQ systems, which are, regrettably, unbeatable.
And of course, we are spending ENORMOUS amounts of effort modifying our order routing systems to make sure that Datek Online orders are always routed to the best price in the brave new world on 13 January.
on the Jan 13 rule changes:
these new rules will cahnge the stock market world. Everybody is divided on whether this is a good thing or a bad thing. it depends on who you are. Datek Online customers stand to gain a lot, since independent ECNs (electronic commerce networks) will become much more important as order execution systems, and Island, the main system which Datek Online uses is one of two currently operational ECNs. (The other, Instanet, is used by an exclusive set of brokerage firms: membership is not open to all, although under the new rules, any brokerage firm can see the best orders on Instanet and execute them. In fact thats what the new rules are all about. )
This all means more exposure for Datek Online customer orders in the long run. In the short run, it will take NASD firms a while to figure out how to operate under the new rules, and this is likely to mean reduced liquidity on NASDAQ.
for those of you who are interested, the entire Island limit book will be accessible in real-time on the internet, soon.
always so much to do. i really should not be writing this.
-peter
some guy who develops a lot of the systems used by Datek Online. |
