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To: Gary Korn who wrote (4913)10/12/1999 10:07:00 AM
From: Gary Korn  Read Replies (2) | Respond to of 10027
 
Interesting comment from the YHOO board (pardon the math):

NITE makes market in over 7,000 Securities. When you take out the top 500 securities, by trade volume, from the NASDAQ and NYSE, the other 6,000 Securities are trading low volumes. That's where NITE makes it's money. Check out the American Stock Exchange, some of those securities are trading in the 25K share range a day. ECNs or Automated systems don't work there. No execution, no liquidity.

Gary Korn