ECNs Hold Up After Attacks on World Trade Center, Re-evaluate Redundancy
SPECIAL REPORT
NEW YORK--Electronic communications networks and alternative trading systems suffered a blow from the World Trade Center terror attacks, but their networked nature and redundancy plans found them faring better than many of their interdealer broker customers.
The most obvious impact was on publicly traded Instinet, which announced that the devastation of its clearing operations in the World Trade Center and loss of revenue from the equity markets’ four-day halt would amount to $18 million, or $0
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