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:
“We crossed a deep and wide bay which makes eastward north of Kineo, leaving an island on our left, and keeping to the eastern side of the lake. This way or that led to some Tomhegan or Socatarian stream, up which the Indian had hunted, and whither I longed to go. The last name, however, had a bogus sound, too much like sectarian for me, as if a missionary had tampered with it; but I knew that the Indians were very liberal. I think I should have inclined to the Tomhegan first.”
—Henry David Thoreau (1817–1862)
“... the subjective viewpoint is the only one to use regarding a library. Your true library is a collection of the books you want. You may have deplorably poor taste or bad judgment. Never mind. Correct those traits before you exchange your books.”
—Carolyn Wells (1862–1942)