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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (69547)	4/8/2001 12:27:25 AM
From: Deeber	Respond to of 122087

Anthony, what are your membership rates? FYI short HAND 11 1/4, PCG 7 1/4, ALOY 8 now. ERTS at 50 also.

To: Anthony@Pacific who wrote (69547)	4/8/2001 2:46:30 AM
From: Tim Luke	Respond to of 122087

April 6, 2001 NYSE Confirms Plan to Trade Three Exchange-Traded Funds By Gaston F. Ceron and Chad Bray Dow Jones Newswires NEW YORK -- The New York Stock Exchange confirmed plans to trade three popular exchange-traded funds that are listed at the rival American Stock Exchange. NYSE Chairman Richard Grasso said Friday that the Big Board plans to trade the ETFs that track the Dow Jones Industrial Average, the Standard & Poor's 500 stock index and the Nasdaq 100 index. These three securities are listed on the AMEX, and so the Big Board will seek unlisted trading privileges for them. NYSE officials said they hope to begin trading the three ETFs by June. An ETF is a security that resembles a mutual fund but trades like a stock. By choosing to trade the three ETFs, the Big Board is moving into the Amex's territory. Over the past few years, the Amex has enjoyed a comeback of sorts through its success with ETFs. Amex spokesman Robert Rendine said the Amex sees the NYSE's interest in ETFs as a sign of the securities' popularity. He said the Amex doesn't think it will lose significant share volume in the three ETFs to the NYSE. "The depth of liquidity and the quality of the market here is unsurpassed," Mr. Rendine said, noting there are now 97 ETFs listed at the Amex. "We've done very well and we're going to continue to do very well." The three Amex ETFs will join iShares, the NYSE's own ETF that tracks the Standard & Poor's Global 100 index. Asked about their strategy regarding future ETF products, Big Board officials said they're not ruling anything out, including seeking unlisted trading privileges, or UTPs, for other ETFs. But NYSE Group Executive Vice President Catherine Kinney noted that the ETF market is still developing, making it difficult to predict which products will gain appeal. When the NYSE introduced iShares last December, Mr. Grasso said the NYSE might look to trade other exchanges' ETFs. The decision to trade the three Amex ETFs was reported in The New York Times and The Wall Street Journal on Friday. Mr. Grasso stressed that the NYSE isn't looking to trade individual stocks that are primarily traded at other markets. "We're not about to UTP Microsoft," he said, referring to Microsoft Corp., a Nasdaq Stock Market stock that the NYSE has coveted for years. "Why would I do that, when Catherine [Kinney] is going to list them?" Mr. Grasso joked. At the NYSE press conference, which followed a meeting of the NYSE's board in Washington, exchange officials also spoke about concerns regarding the shift to trade stocks in decimals instead of fractions. The NYSE has already completed its transition to decimal prices; Nasdaq is expected to complete the process on Monday, capping off a phase-in period that began in March. Decimalization allows stocks to trade in increments as small as one cent, instead of the one-sixteenth of a dollar increment that was previously used. Traders and investors say this has made trading stocks more of a headache, making it easier for professional traders to step in front of public orders. Others complain that trading in pennies has diminished the value of stock quotes because the supply and demand for a stock is now spread out over 100 price points from one dollar to the next, as opposed to 16. In response, the NYSE introduced a "depth indication" that tells brokers when there is a significant amount of stock available at prices close to the best price being bid or offered. This indicator is available on all the NYSE stocks that are in the S&P 500. Next, the exchange will soon provide more precise data about the supply and demand for a stock at prices near the best bid or offer. Eventually, the NYSE plans to open its specialist traders' order book, which would allow a broad look at market activity. The NYSE has set up a committee to study the effects of decimalization and advice Mr. Grasso on possible changes

To: Anthony@Pacific who wrote (69547)	4/8/2001 2:46:30 AM
From: Tim Luke	Respond to of 122087

April 6, 2001 NYSE Confirms Plan to Trade Three Exchange-Traded Funds By Gaston F. Ceron and Chad Bray Dow Jones Newswires NEW YORK -- The New York Stock Exchange confirmed plans to trade three popular exchange-traded funds that are listed at the rival American Stock Exchange. NYSE Chairman Richard Grasso said Friday that the Big Board plans to trade the ETFs that track the Dow Jones Industrial Average, the Standard & Poor's 500 stock index and the Nasdaq 100 index. These three securities are listed on the AMEX, and so the Big Board will seek unlisted trading privileges for them. NYSE officials said they hope to begin trading the three ETFs by June. An ETF is a security that resembles a mutual fund but trades like a stock. By choosing to trade the three ETFs, the Big Board is moving into the Amex's territory. Over the past few years, the Amex has enjoyed a comeback of sorts through its success with ETFs. Amex spokesman Robert Rendine said the Amex sees the NYSE's interest in ETFs as a sign of the securities' popularity. He said the Amex doesn't think it will lose significant share volume in the three ETFs to the NYSE. "The depth of liquidity and the quality of the market here is unsurpassed," Mr. Rendine said, noting there are now 97 ETFs listed at the Amex. "We've done very well and we're going to continue to do very well." The three Amex ETFs will join iShares, the NYSE's own ETF that tracks the Standard & Poor's Global 100 index. Asked about their strategy regarding future ETF products, Big Board officials said they're not ruling anything out, including seeking unlisted trading privileges, or UTPs, for other ETFs. But NYSE Group Executive Vice President Catherine Kinney noted that the ETF market is still developing, making it difficult to predict which products will gain appeal. When the NYSE introduced iShares last December, Mr. Grasso said the NYSE might look to trade other exchanges' ETFs. The decision to trade the three Amex ETFs was reported in The New York Times and The Wall Street Journal on Friday. Mr. Grasso stressed that the NYSE isn't looking to trade individual stocks that are primarily traded at other markets. "We're not about to UTP Microsoft," he said, referring to Microsoft Corp., a Nasdaq Stock Market stock that the NYSE has coveted for years. "Why would I do that, when Catherine [Kinney] is going to list them?" Mr. Grasso joked. At the NYSE press conference, which followed a meeting of the NYSE's board in Washington, exchange officials also spoke about concerns regarding the shift to trade stocks in decimals instead of fractions. The NYSE has already completed its transition to decimal prices; Nasdaq is expected to complete the process on Monday, capping off a phase-in period that began in March. Decimalization allows stocks to trade in increments as small as one cent, instead of the one-sixteenth of a dollar increment that was previously used. Traders and investors say this has made trading stocks more of a headache, making it easier for professional traders to step in front of public orders. Others complain that trading in pennies has diminished the value of stock quotes because the supply and demand for a stock is now spread out over 100 price points from one dollar to the next, as opposed to 16. In response, the NYSE introduced a "depth indication" that tells brokers when there is a significant amount of stock available at prices close to the best price being bid or offered. This indicator is available on all the NYSE stocks that are in the S&P 500. Next, the exchange will soon provide more precise data about the supply and demand for a stock at prices near the best bid or offer. Eventually, the NYSE plans to open its specialist traders' order book, which would allow a broad look at market activity. The NYSE has set up a committee to study the effects of decimalization and advice Mr. Grasso on possible changes