There is a lot going on with the ECNs and NYSE/NASDAQ saga. Another
ECN, BRUT is also in talks:
biz.yahoo.com
Right now, as far as the retail trader/investor is concerned, I think everyone will agree, ISLD is the best, with TNTO a distant second. Cost, liquidity and technical support are all superior.
But it seems Datek wants to go it alone, and actually compete with NYSE and register as a market. Maybe that's why NYSE is talking to INCA, BRUT etc, and not to ISLD.
Should a INCA/NYSE deal (or BRUT/NYSE, etc) be struck, I wonder if it would leave ISLD out in the cold, with less liquidity. What would happen then? Would traders gradually drift to the UberECN-NYSE-NASDAQ creation, and leave Datek to wither on the vine?
I don't know, it seems Datek may be at a cross-roads. Their big advantage is ISLD. If they lose that (through ISLD becoming a minor player), it could spell trouble for their brokerage business... how many people will put up with their inadequacies, once you remove their one huge advantage - great ISLD executions?
Maybe in the end it won't make any difference, but it could be a good idea for Datek to boost customer loyalty through providing superior service all-around. Just a thought.
I sense interesting times ahead! |
