A sale would accelerate consolidation in the arcane and aggressive world of trading, where exchanges fight to be the place where trades are executed. The New York Stock Exchange controls about 80 percent of trading in its listed stocks. On the Nasdaq market, however, trading is divided among three electronic giants: Nasdaq, Archipelago and Instinet.
Our market structure editor "went over to the dark side" so we haven't been vigilant in this sector. That was my one contribution to the enterprise last week, a week when I was zonked by toothache pain and strategically administered vicodins--"Let's see, I don't have to think creatively for the next four hours, so I can afford to alleviate the bone-ache in my jaw"--I tracked all her coverage in the archives and marked down the bare minimum of stories we need to pick up the slack on following up on.