Instinet Lowers Prices, Gains Market Share
TRANSACTION SYSTEMS
NEW YORK--Instinet has changed its price schedule for US broker/dealers trading Nasdaq equities, apparently in response to competition from Nasdaq's Supersoes trading system and Island.
The ECN and agency broker increased its rebate for broker/dealers that provide liquidity to $0.002 per share from $0.0005 per share, a 300 percent increase. The charge for taking liquidity remains $0.003 per share. For customers that take and provide liquidity, the cost will be $.0005 per share, or $0.50 per 1,000
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