Instinet Ready To Sue To Protect Fees
ATS/ECN UPDATE
NEW YORK--Instinet, the ECN that insists it is not an ECN and has deemed all ECNs generally an endangered species, is planning legal action to protect its access fee. Any lawsuit would be in response to a threatened move by the Securities and Exchange Commission to eliminate non-customer access fees. SEC Chairman Arthur Levitt has identified these fees for elimination. ECNs generally charge them to non-subscribers.
"We will fight in court if we have to," says Doug Atkin, Instinet's president and
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