Re: Instinet, ECN and NASDAQ

["Lionel Issen" <lissen@xxxxxxxxx>]

Eric:

Thanks for this information.  Can you suggest any other ECN related web
sites?
A web search only brought up some stale information on the proposed SEC
action to require posting of both the NASDAQ and ECN prices. I guess the
brokerage industry was able to prevent this.

Some time ago, CNN used to have a fellow Blumeberg (spelling?) comment on
the market before it opened. He used a number of tools to predict the
direction and $ movement of the market, one of them was the price of futures
on the S&P and other major indices. He was rarely wrong. While the present
person doing this is easier to look at, she's simply not in his league.  My
question is, do you know where I can get information on the relationship of
the futures price of say the S&P to the near term movemement of the S&P?
Lionel Issen
lissen@xxxxxxxxx
----- Original Message -----
From: "Erik C. Olson" <eolson@xxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Saturday, March 17, 2001 10:55 PM
Subject: Re: Instinet, ECN and NASDAQ


> Lionel,
>
> Instinet is one of many ECNs.  It is generally favored by institutions
> looking to disguise their identity on Nasdaq Level II.  Institutions also
use
> it pre- and post-market.  But its bid and ask can be seen on Level II.
>
> Other ECNs can also be seen on Level II, at least their best inside bids
and
> asks.  If you wish to see more of their books, then you need to bring up
each
> ECN's own book.  Island (www.island.com) is the one more frequented by the
> retail market.  On their website you can bring up a Java version of their
> book, with the full book shown.  REDI and ARCA are two other ECNs also
> favored by retail users, and I'm told they also have visible books.  (I've
> never been interested in that level of detail; between Level II and,
> occasionally, an extra window with Island's book, I feel I've got a pretty
> good sense of what people are displaying.)  Incidentally, Island also
trades
> some non-Nasdaq stocks, so on very heavily traded NYSE issues you get a
> somewhat deeper look at interest outside the best bid and ask prices than
is
> otherwise possible.
>
> Best wishes,
> Erik Olson
>
> Lionel Issen wrote:
>
> > I am not a day trader. I just learned about the existence of Instinet
and
> > ECN. How can I access the bid ask prices on Instinet and ECN?
> > Lionel Issen
> > lissen@xxxxxxxxx
>
>