In ECN Shift, TD Waterhouse Puts Its Money On REDIBook
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NEW YORK--After pulling out of a deal last week to invest $25 million in Island, considered to be the second largest Electronic Trading Network (ECN), TD Waterhouse plans to take its money and run to REDIBook, one of Island's rivals.
Last summer, REDIBook attracted attention when it joined with Charles Schwab, the Fidelity Investments Unit of the FMR Corporation and DLJ Direct, a subsidiary of Donaldson Lufkin Jenrette. Each company owns 25 percent of the new entity. An expected name change that
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