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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: TFF who wrote (7837)	1/6/2000 8:43:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 12617

TFF, Unless INCA lowers their fees, they won't be the ECN of choice for retailers. Right now, I use them to exit during the day because of their liquidity but still hate to spend the extra bucks. Can't find a reason to use them for entry. Wonder if their business model will change to cater to the masses. Seems doubtful. Don't know the status of the ECNs getting together. There would be some difference between a consolidated book and a central order "desk". That book might take some of the current fun of the process. Alan

To: TFF who wrote (7837)	1/6/2000 9:20:00 PM
From: LPS5	Read Replies (1) \| Respond to of 12617

Instinet has already started to cater to the retail online brokerage market, albeit indirectly. By indirectly, I mean: not through a retail online broker dealer of their own design or ownership, but instead by letting firms such as ETrade and Siebert link to them from their front ends. I don't know why they've been advertising so much...maybe the Island vs. Instinet volume lead has grown too close for comfort...but while not impossible, I don't see them going into the retail market. It could very well be that their moves with ETrade and the like are merely efforts to increase their already formidible liquidity. Recently, they've invested in a large NYSE specialist firm and Tradepoint (an ATS with aspirations to become a pan-European electronic stock market), as well as begun work on an electronic fixed income trading system (of which there are already a few). These developments are in keeping with their primarily institutional focus and target. LPS5