Would-Be Instinet, Selectnet Competitor Pushes Harder


DATEK Securities says that the automated Nasdaq limit-order trading mechanism--known as The Island System--that it launched in April is attracting increased interest on the part of broker/dealers. Meanwhile, the firm has recently released a World Wide Web browser-based version of the service, called Datek Online.

Datek is among the most active of the controversial so-called SOES-bandit firms, which use Nasdaq's Small Order Execution System to take advantage of market momentum. The Island System

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The Cusip lawsuit: A love story

With possibly three years before the semblance of a verdict is reached in the ongoing class action lawsuit against Cusip Global Services and its affiliates, Reb wonders what exactly is so captivating about the ordeal.

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