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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: blankmind who wrote (37422)	3/4/1998 12:31:00 AM
From: Gary Korn	Read Replies (5) \| Respond to of 61433

gark? I called and spoke with a salesperson at Instinet (INCA) today. Seems they don't want my business. Here is the scoop: Instinet serves two categories of customers: (1) institutional money (like pension plans) and (2) broker dealers. One big benefit of INCA, or so I was told, is that I might be able to execute trades between the then current bid/ask (i.e., if the bid were 33 7/8 and the ask were 34, I might get to purchase a stock at 33 15/16). Another benefit would be pre- and after-market trading. Because I'm not institutional money, I asked if I could get an account as a broker/dealer. Yes, they said, but I would need to form a company that would have a registration with NASD (or another exchange). Or, I could form a hedge fund (minimum $10MM for an Instinet account). So, unless everyone here wants to chip in and form a hedge fund, I guess INCA is not for us. But it does tell you what kind of money is making those big block trades on INCA. Gary Korn