During this session, Island racked up a record volume of 7.9 million shares matched. Investors clearly want better access to our markets and greater flexibility in pursuing their financial goals. This is why we led the way in providing after-hours trading. Island is ready today to bring its superior speed, efficiency and prices to the market for NYSE-listed stocks. Just this week, SEC Chairman Arthur Levitt spelled out a bold reform agenda for moving us down that path.
Island is an automated trading system for equity securities.
It gives brokers the power to electronically display customer orders. Island functions as a pure auction market - directly matching buy and sell orders.