Founded in 1996 by Jeff Citron and Joshua Levine, Island ECN was one of the first electronic communication networks (ECN) for equity trading. Citron had a background in trading whilst Levine specialized in software development. At Datek they developed Watcher, one of the first programs that provided real-time quotes and order information. Traders used Watcher to trade NASDAQ stocks. Datek Securities is now TD Ameritrade, one of the largest American brokerage firms. Island ECN became usable in 1997 and Istinet acquired Island ECN in 2002, renaming it Inet.
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