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To: Fred B. who wrote (120833)4/27/1999 1:58:00 PM
From: GVTucker  Read Replies (1) | Respond to of 176387
 
Fred, RE:<<Many daytrading firms such as cornerstone financials also use inca. It is not that expensive. >>

Instinet is an agency only system. It is more expensive to trade agency than as principal directly with market makers. For day traders, it would be foolish to spend the extra money. (Although, for the most part, day traders lose money, so I guess it isn't too irrational to expect a day trader to act foolish. <g>)

The chief advantage to trading Nasdaq stocks through Instinet is the anonymity that Instinet brings. For a large buy side institution, this is important. For a day trader, it is irrelevant.