Wide Open Market Slows Instinet, But Gives Institutions More Trading Options
TRADING LINKS
The owners of the major US electronic crossing networks began 1997 with a blessing from the Securities and Exchange Commission in the guise of its new order execution rules. That sent floods of orders over these alternative markets and encouraged competitors to challenge the market's leader, Reuters' Instinet.
But it also stretched some systems to their limits. On five occasions in April alone, Instinet ground to a halt, leading to a warning from US regulators (September 19). The wear and tear
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