Selectnet Volume In Millions: Instinet Users Like Its Price
THIS WEEK'S LEAD STORIES
The National Association of Securities Dealers' SelectNet posted volumes of almost three million shares a day -- one- third that of rival Instinet's average daily volume -- during its first week of operation under a six-month pilot that began Nov. 26. But contrary to NASD rhetoric, participants are finding that the system is not a panacea for eliminating unscrupulous traders.
SelectNet is an enhancement to the NASD's Order Confirmation Transaction system (OCT), which was implemented in January
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