Tradescape Courts Instinet's Protrader, Moves Up in ECN Race
TRANSACTION SYSTEMS
NEW YORK--Tradescape, a provider of direct access technology and owner of the MarketXT ECN, may be in talks to buy part or all of Protrader, the day-trading firm acquired by Instinet in October (TTW, July 30), partly in exchange for sending its trades to Instinet Clearing, says a source close to the ECNs. At the same time, Tradescape is mulling selling its broker-dealer and day-trading unit, Houston-based Momentum Securities, the source says.
Protrader offers its Gr8trade platform to day traders
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