ECNs Adjust to a SuperMontage World

摘要

While SuperMontage isn't likely the death knell for elec- tronic-communications networks, it will force them to visit the drawing board and come up with a better battle plan for competing in the new environment. Just what that plan should entail, however, is not clear, as analysts are at odds on whether ECNs need to become exchanges or provide more broker/dealer-type solutions. "I don't think the picture is as black and white or as bleak as many people would believe," says Damon Kovelsky, an analyst at Meridien Research in Newton, Mass.