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Trading Technology

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Leonard Grant
Leonard Grant
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ECN Connections

With market prices fluctuating by the second, the "time is money" attitude of electronic brokerage firms has fueled the war between ECNs and the "middleman." Daytraders are looking for more opportunities, faster execution times and lower transaction costs to make them victorious in Y2k.

This Austin-Texas-based e-broker specializes in third-generation, real-time, direct access trading and execution technologies. As part of the site, it operates an ECN portal called CyBerXchange that maintains direct connections to Nasdaq market makers through SelectNet and offers links to several ECNs, including: Island, Attain, Archipelago, REDIBook, NexTrade, Instinet, Bloomberg TradeBook, Brass, BRUT, Strike Technologies and MarketXT, an after hours online broker. Active traders enter the ECN portal via one of two front-ends: the more sophisticated CyBerTrader 2.0 with full decision support and Nasdaq Level II quotes, or the streamlined CyBerX with Level I quotes.

Boasting direct connectivity to nine ECNs (Archipelago, Attain, Bloomberg, BRUT, Instinet, Island, NexTrade, REDIBook and Strike Technologies) with its proprietary Electronic Communications Network Portal (ECP), TradeScape.com tailors its services to high-volume day traders and active on-line investors. The ECP bypasses Nasdaq's SelectNet system for ECN access, which eliminates potential order delays and additional order costs by creating a portal that maximizes all ECN opportunities through a single integrated interface.

TradeCast Online is the vehicle for TradeCast Securities Ltd. electronic trading. The Houston-based firm offers real-time information, tickers, indices, and a Quick Quote tool to make trading through TradeCast Securities Ltd.'s Go Direct efficient and easy. Although Island is the only ECN currently offered, it plans to link to Archipelago this year.

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