The Island ECN, Inc. announced today its support for the New York Stock Exchange's decision to repeal Rule 390, which restricted NYSE members from trading listed stocks off an exchange floor. Island applauds SEC Chairman Arthur Levitt for initiating this campaign to abolish Rule 390. To bring full and fair competition to the listed market, the SEC has also stated that it is working with the Nasdaq Stock Market to provide ECNs access to the Intermarket Trading System and the Consolidated Quotation System.
Island gives brokers the power to electronically display customer orders.