July 30, 1999 |
The likelihood that the New York Stock Exchange and Nasdaq Stock Market both will take the once unthinkable step of selling shares in themselves to the public reflects a stark reality for Wall Street: A crop of upstart electronic networks is drastically transforming--many say improving--the way investors trade stocks. Only a couple of these trading systems, known as electronic communications networks, or ECNs, even existed three years ago.
May 23, 2000 |
The Nasdaq Stock Market plans to charge market-data vendors 80% less for real-time, detailed information aimed at retail investors in the expectation these savings will be passed along to those investors, a spokesman said Monday. The board of Nasdaq's parent, the National Assn. of Securities Dealers, last week approved a one-year pilot program reducing the "nonprofessional" subscriber fee to $10 a month from $50 a month, said market spokesman Scott Peterson.
CALIFORNIA | LOCAL
March 23, 2000
After more than a century of operation, the Pacific Stock Exchange soon will shut down its trading floors in Los Angeles and San Francisco and move into cyberspace, the new address for electronic commerce. It is the first bricks-and-mortar stock exchange in the United States to convert to fully electronic trading. Other regional exchanges, and even the New York Stock Exchange, are under the same competitive pressure from cheaper, faster electronic markets and may have no choice but to follow.
August 9, 2000 |
The New York Stock Exchange has a new rival for trading shares of its listed companies: an automated system called Archipelago that this week gained access to the systems linking U.S. stock markets. Archipelago can now execute third-market, or off-exchange, orders for NYSE-listed stocks and display buy and sell orders on the Consolidated Quotation Service, the U.S. stock price reporting mechanism.
July 22, 1999 |
Is there room for yet another electronic stock market? Charles Schwab Corp., the biggest Internet broker, and Fidelity Investments, the No. 1 mutual fund company, joined two other securities firms Wednesday in announcing plans to launch an electronic network to enter the fastest-growing part of the stock-trading business. The venture, whose partners also include online broker DLJDirect Inc.
October 12, 2000 |
The Nasdaq Stock Market said Wednesday it will offer an early morning version of its Nasdaq-100 index, addressing a growing interest in trading Nasdaq stocks before the market officially opens for business. The index tracks the largest Nasdaq stocks, a list dominated by the nation's biggest technology stocks. The Nasdaq-100 Pre-Market Indicator will be updated every minute starting at 8:30 a.m. New York time, an hour before trading formally begins.