Island ECN was one of the first electronic communication networks established for the trading equities in the United States.
Founded in 1996 by Datek Securities veterans Jeff Citron and Joshua Levine, Island executed its first trades in 1997.
[1] Prior to Island, Citron and Levine worked together at Datek Securities (now TD Ameritrade).
Island grew quickly, accounting for almost half of all trades on Nasdaq's SelectNet system by late 1996, and handling $22.1 billion of transactions between July and September of that year.
[3]: 193–195 Instinet acquired Island Exchange in 2002 and renamed the trading platform to Inet.