Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Knight/Trimark Group, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Bob Kim who wrote (4055)	9/16/1999 9:31:00 PM
From: eDollar.com	Read Replies (1) \| Respond to of 10027

Are the ECNs competirior to NITE or do they direct an order to NITE? Can somebody clarify?

To: Bob Kim who wrote (4055)	9/16/1999 10:37:00 PM
From: Pigboy	Respond to of 10027

Bob, If the ball is in NITE'S COURT, they gotta start shootin' the ball. ;-)

To: Bob Kim who wrote (4055)	9/17/1999 4:41:00 AM
From: Herschel Rubin	Respond to of 10027

Bob, KP has suggested in the past that at least some of the ECNs have approached NITE about some form of partnership. Yes, that was in the Q2 conf call. KP did indeed underscore the fact that the ECN's sought out NITE, rather than the other way around because, as he said, they recognize the shortcomings of their model as a complete solution. It seems obvious to me that it is only a matter of time before NITE is tapped to provide liquidity for the new alliance of 8 ECN's. This would be a "killer app" of an exchange!... Bundle networked ECNs with the dominant market maker! With NITE's stake in BRUT, they already have a foot in the door with the networked ECN alliance, so I wouldn't be surprised if some arrangement is already being hashed out between NITE to provide liquidity for those ECN's. After all, NITE is a quasi ECN in its own right. And it has the most "cutting edge" trading technology. Compare them to Herzog, for example! The ECN's also need a neutral liquidity provider. For example, why would they choose MASH which is owned by Schwab which might tend to favor trades that are inbound from Schwab over trades from EGRP or AMTD, for example. So, NITE's "neutrality" and state-of-the-art ECN-like trading system makes them an ideal fit for a hybrid ECN/MM exchange. OT: BTW Gary/Bob, I'm taking my girlfriend on vacation for two weeks in Grand Canyon, Lake Powell & Southern AZ, so you won't have to sift thru my long-winded posts until Oct 2! Unfortunately, now is when NITE is getting really interesting. Can't get cell phone reception on Lake Powell either! Damn! Gary, Thanks for the Hambrecht & Quist post. That was a good read. Quite favorable.