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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: aldrums who wrote (9493)	7/13/2000 12:56:59 AM
From: LPS5	Read Replies (1) \| Respond to of 18137

Of course that must mean that the NYSE specialist will open the stock at at least $73.50 tomorrow. Tell me you're kidding. Please. On to the second, item, in very general terms, ECNs trading listed stocks will provide easier, faster, and cheaper access to such trading than the traditional methods. Not only with regard to what retail customers can access and execute versus, but also in terms of what it will take for NASD member broker dealers to make markets in listed stocks. The relationship - presently and as ECNs begin to trade listed stocks in greater volume - is one rooted in providing better opportunities for price improvement. If you send an order to the NYSE, and there's a better market elsewhere (Chicago, PHLX, etc.), that is where your trade will be executed. The real meat and potatoes of regional exchanges is not, as one might think, unique, local listings: instead, it's acting competitively to, in many cases, improve markets in issues traded on other exchanges. For an example occuring in tandem with this, the ISE intends to mimic the competitive market impact that ECNs introduced in the OTC markets by eventually listing and trading all equity options contracts. Many of these were, as recently as 6 months ago, traded on a single options exchange. LPS5