Instinet Protests Amendments to Proposal
ATS/ECN UPDATE
NEW YORK--Amendments made by the Nasdaq to its SuperMontage proposal have lead to opposition from Instinet in the form of a supplemental letter that will be submitted to the SEC before the end of the formal comment period. First announced on October 5, 1999, The SuperMontage has been viewed with increasing alarm by ECNs who regard it as a central limit order book surrogate which would obviate the need for electronic communications networks.
"We’re working on another comment letter on the
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