Inet was an electronic trading platform. It was acquired by NASDAQ in 2005. Inet, like other electronic communication networks, was an order-pairing system that gives brokerage firms the power to electronically track and match reciprocal buy and sell orders at the same limit price and lot size. Its efficient and reliable systems reduce costs to both brokerage firms and investors and facilitate high speed pairings of buy and sell orders.
Inet was formed after Island Exchange was merged with Instinet in 2002. Island changed its name to Inet ATS, Inc. ("Inet") effective November 17, 2003. A high volume of trades were routed through Island, with over $5 billion USD handled daily in 1999. Its headquarters were in New York City.
Famous quotes containing the words island and/or exchange:
“Beyond this island bound
By a thin sea of flesh
And a bone coast ...”
—Dylan Thomas (1914–1953)
“We shall exchange our material thinking for something quite different, and we shall all be kin. We shall all be enfranchised, prohibition will prevail, many wrongs will be righted, vampires and grafters and slackers will be relegated to a class by themselves, stiff necks will limber up, hearts of stone will be changed to hearts of flesh, and little by little we shall begin to understand each other.”
—General Federation Of Women’s Clubs (GFWC)