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Non-Tech : J.B. Oxford -- Ignore unavailable to you. Want to Upgrade?

To: James H. Irwin who wrote (1997)	5/5/1999 3:22:00 PM
From: Sir Auric Goldfinger	Read Replies (1) \| Respond to of 2220

Plenty, I'v been trading INCA since before you were born (THE ORIGINAL ECN): "Instinet Wants to Offer Trading for Small Investors New York, May 5 (Bloomberg) -- The New York Stock Exchange, Nasdaq Stock Market and two competing private companies plan to offer individual investors the chance to trade after traditional market hours. Now Instinet Corp. wants to enter the fray. The Reuters Group Plc subsidiary says it's in discussions with online brokers and other securities firms to make its electronic securities trading system available to individuals both during the regular trading session and after hours. ''It's not if Instinet will be in retail, but how we're going to do it,'' Instinet Chief Executive Doug Atkin said in a conference call. Atkin said Instinet has an ''aggressive target'' of offering the new service in 1999. He said Instinet will give individual investors the chance to place orders in about 40 stock markets around the world. Institutional investors, such as mutual funds and pension funds, already use Instinet, partly to trade in the early morning and in the evening after corporations have released market-moving news. Instinet, the largest electronic communications network, or ECN, accounts for 20 percent of Nasdaq volume. The Island ECN Inc., the second-largest electronic trading network, which primarily trades orders by individual investors, doesn't feel threatened by any Instinet plans, an Island executive said. Nasdaq said it may offer trading from 6 p.m. to 10 p.m. as early as this summer. NYSE Chairman Richard Grasso has told exchange members that if Nasdaq extends hours, the Big Board will react. Eclipse Trading Inc. said Nasdaq market-maker Herzog Heine Geduld and online brokerage firm Dreyfus Brokerage Services agreed to join the after-hours stock trading system Eclipse plans to start by the end of summer. Eclipse now has signed up two online brokers and two market- making firms for the system. Eclipse plans to sign up more brokers and market makers before the new electronic market begins operations. Wit Capital Corp., an online investment bank, plans a similar after-hours system. Bloomberg News, Bloomberg Financial Markets, Bloomberg Television and Bloomberg Tradebook compete with Reuters in providing news, information and trading systems to the financial community.