Island ECN To Trade NYSE-Listed Stocks In April

ATS/ECN UPDATE

NEW YORK--Island ECN, generally ranked second in terms of volume, plans to begin trading NYSE-listed stocks some time in April. The announcement was made on February 7 by Island CEO Edward Nicoll at an on-line news conference.

The repeal of Rule 390, which banned the trading of NYSE stocks listed before 1979 outside the Exchange, will give ECNs access to these securities and continues to be a major event. Island has traded three NYSE-listed stocks since December--IBM, Walt Disney Co. and America

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