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Pastimes : CNBC -- critique. -- Ignore unavailable to you. Want to Upgrade?

To: Kathryn Anshutz who wrote (2822)	6/7/1999 1:33:00 PM
From: Jim S	Read Replies (1) \| Respond to of 17683

Thanks, Kat, I'll go take a look right now. I was beginning to think that you and I were the only two people on SI who care about the subject of extended hours. :-) jim

To: Kathryn Anshutz who wrote (2822)	6/7/1999 2:08:00 PM
From: Ian@SI	Read Replies (1) \| Respond to of 17683

Kathryn, I believe it's actually Electronic Commerce Network. ... not that it matters much one way or the other. ECNs today provide a vehicle for institutions to trade stocks.

To: Kathryn Anshutz who wrote (2822)	6/8/1999 10:53:00 AM
From: Jim S	Read Replies (1) \| Respond to of 17683

Morning, Kat-- Here's an interesting tidbit that I first saw on the Datek thread: nytimes.com It seems that Merrill and Goldman are teaming up to put their considerable resources against ECNs. Between the lines of this article is the idea that the big houses are unwilling to allow the "democratization" of the trading game (now, there's a shock!) that ECNs would permit. Near the end of the article, it indicates that not only will price improvements be part of the new electronic system, but that those improvements will only be allowed for the "member firms" like MMs and major brokerages. In other words, the 'skimming' will continue on the Merrill/Goldman system just like in the real markets. Anything to take money away from you and I. Really makes me proud to know that our taxes go to the SEC so they can enable systems like this that can transfer more of our money to market manipulators like Merrill and Goldman. Pardon the sarcasm, jim