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To: Sir Francis Drake who wrote (2679)	7/21/1999 4:14:00 PM
From: Dalin	Read Replies (3) \| Respond to of 10027

Morgan! Did you see this on the Sch thread? Four Firms Announce a New ECN - 11:55 AM EST - TK Fidelity, Schwab, DLJ, and Spear, Leeds & Kellog announced today they have joined forces to form a new ECN (electronic communications network). These companies will establish a new computerized trading system that will pool their trade transactions. In the past, ECNs were only available to instutional investors. However recent changes in regulations have opened them up to individuals. ECNs already account for 20-25% of trades on the Nasdaq. BTY! D.