CSFB Analyst Warns Of Anti-ECN Propaganda
ATS/ECN UPDATED
NEW YORK--The growth of Electronic Communication Networks (ECNs) has "caused some major heartburn on Wall Street," says Credit Suisse First Boston analyst Bill Burnham. And now rivals are fighting back by portraying ECNs as somehow dangerous to the market.
Nasdaq currently estimates that ECN volume accounted for 9.8 percent of total Nasdaq volume in the first quarter, up from 8.4 percent in the prior quarter. And while Burnham estimates that ECN volumes are more than double what Nasdaq reports
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