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

To: Eric P who wrote (7025)	4/21/1999 2:34:00 PM
From: wily	Respond to of 12617

That was a "yes, I assume so". Didn't see any announcement. Just called MB, no more TNTO. Probably shoring up appearances now that GSCO is an owner. wily

To: Eric P who wrote (7025)	4/21/1999 5:04:00 PM
From: TFF	Read Replies (2) \| Respond to of 12617

It Begins.......... E-Trade set to bypass market makers Last Update: 10:19 AM ET Apr 21, 1999 NewsWatch ARLINGTON, Va. (AP) -- Internet broker E-Trade plans to offer Nasdaq trading customers the option of completing their orders through an Electronic Communications Network. ECNs execute trades with no intermediary. Traditional "market makers," which currently handle most trades, pay brokerages to send them orders. They often use their own inventory of stock to complete orders, pocketing the difference between what they paid to buy it and the investors' purchase price. E-Trade (EGRP: news, msgs), based in Palo Alto, Calif., will begin offering customers a choice between the two methods in the fourth quarter, USA Today reported today. It will route orders to an ECN called Archipelago, of which E-Trade owns 25 percent. ECNs account for a growing share of all Nasdaq trades. One upstart named Island has executed 16 percent of all Yahoo trades and 19 percent of Amazon.com trades this year, the newspaper said. The networks say they can sometimes get a better price for investors by cutting out the intermediary firm and letting buyers and sellers directly transact. Some brokerages, such as CyBerCorp and Datek, are aggressively marketing their ECN use. But neither lets customers choose where to complete their transactions.