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Alternative Trading Systems ECNs

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	Archipelago - http://www.archipelago.com Order entry and execution system for Nasdaq and listed stocks. Features include anonymous access to all displayed Nasdaq market participants, SmartBook TM proprietary execution algorithm.
	ITG Europe - http://www.itgeurope.com European crossing network. Orders can be entered manually, imported from a trade order management system or loaded via an Excel spreadsheet. Accepts orders via email for forwarding to POSIT. Sales traders will accept orders via phone calls or fax.
	http://www.nasdaqtrader.com - http://www.nasdaqtrader.com Covers the Nasdaq market providing proprietary access to trading liquidity.
	Instinet Corporation - http://www.instinet.com One of the largest brokers in the electronic markets. Recent link up with virt-x exchange in the UK.
	Bloomberg Tradebook - http://www.bloombergtradebook.com/ Institutional access only from Bloomberg terminal through B-Trade Services. Recent expansion deal with Credit-Lyonnais.

	RealTick By Townsend Analytics, Ltd. - http://www.realtick.com/ Research and direct access trading platform integrated with technical analysis and real time quote displays.
	TrackECN - http://www.trackecn.com A division of Track Data Corp. Has trading technology that links to Nasdaq's SuperSOES.
	ECN Direct - http://www.ecndirect.com Direct access trading primarily for retail investors.
	Marco Polo Network - http://www.marcopolonetwork.com Online equity trading network linking developed countries of the world with emerging markets.
	InstaQuote by Direct Access Financial Corp - http://www.instaquote.net Trading platform providing live streaming market data, point and click analytics and direct order routing for the domestic and international trader.

Trade Desk America - http://www.tradedeskamerica.com Fully integrated, direct-access trading platform. Trade on the NYSE, NASDAQ, Island, Archipelago and all other ECN's.

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