Meet the ECNs
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As I write this book, there are nine ECNs that are active on a Nasdaq
Level II screen. Each ECN is identified by its specific symbol, as are
the market makers. Fidelity, Schwab, Donaldson, Lufkin & Jenrette,
and Spear, Leeds & Kellogg plan to introduce yet another ECN in late
1999. This ECN could serve as the first after-hours trading platform with substantial liquidity that is accessible to the retail public.
Charles Schwab's customer survey indicates that 40 percent of customers
who currently give Schwab after-hour orders will trade
extended hours. This system will offer the client the ability to trade
NYSE stocks as well as stocks traded on the Nasdaq. As you can see,
the ECNs are going to bring about more change in the next five years
than has transpired in the past hundred years. Even the way the
industry does business will be forever altered. Let me briefly introduce
you to the current ECNs.
As I write this book, there are nine ECNs that are active on a Nasdaq
Level II screen. Each ECN is identified by its specific symbol, as are
the market makers. Fidelity, Schwab, Donaldson, Lufkin & Jenrette,
and Spear, Leeds & Kellogg plan to introduce yet another ECN in late
1999. This ECN could serve as the first after-hours trading platform with substantial liquidity that is accessible to the retail public.
Charles Schwab's customer survey indicates that 40 percent of customers
who currently give Schwab after-hour orders will trade
extended hours. This system will offer the client the ability to trade
NYSE stocks as well as stocks traded on the Nasdaq. As you can see,
the ECNs are going to bring about more change in the next five years
than has transpired in the past hundred years. Even the way the
industry does business will be forever altered. Let me briefly introduce
you to the current ECNs.