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 : Ashton Technology (ASTN) -- Ignore unavailable to you. Want to Upgrade?

To: Rob W who wrote (3168)	1/19/2000 7:20:00 AM
From: Rob W	Read Replies (2) \| Respond to of 4443

Interesting SIN Article. Also interesting that Fred's observation in Sept is similar that of the Instinet EVP's comment regarding ECNs. ECNs, ATSs & Other Electronic Markets: An Insider's Guide Bursting on the scene, the electronic trade execution industry is expanding and evolving at a head-spinning rate, threatening to render the open-outcry trading floor model obsolete or at least to drastically alter the way business was conducted in the previous century. What will the picture look like a year from now? Observers say it's difficult to predict because possible changes in SEC regulations on the fees charged for accessing ECNs via Selectnet could put some ECNs out of business. Some say the industry is ripe for consolidation, and, indeed, two ECNs--Brut and Strike--are expected to merge this month. Other observers go so far as to say ECNs could become extinct. "The growing number of ECNs is a symptom of a market in transition, and the implementation of a for-profit exchange, similar to the European model, will make ECNs extinct in the United States," said Davis Gaynes, EVP of Instinet. This week, Securities Industry News provides a snapshot of what the alternative electronic trading market looks like--for now. Stay tuned. (Reported by Mary Schroeder) Complete story in Monday's Securities Industry News _________________________________________________________ Fred R., when asked what happens if there is no Philadelphia Exchange, said that the exchange has real business managers now and that ATG expects to 4X their volume. He didn't foresee the Philly Exchange going away. He suggested that any merger with the NYSE would be super. But, IMHO, that is not on anyone's books. ú Fred R., when asked if Europe and Japan were in ATG's plans, said that the short term and the Intermediate term strategies are: Canada and China. (Canada has a signed-up partner; China is In the negotiation phase.) Japan, Fred said, is an odd-ball market and that it is "not fun to be there." ú Fred R., when asked about competition from ECNs, stated emphatically that "we are NOT an ECN!" The biggest ECNs, he offered, are the NYSE and NASDAQ. He postulated a scenario where the current ECNs start really getting business and feeling their oats, followed by NYSE and/or NASDAQ "pulling the rug" from under them. He restated that "we are a TRADING SYSTEM."