      Island is by far the most widely used "retail" ECN (Instinet isconsidered to be an "institutional" ECN) and is a tool that one cannotafford to do without. ISLD is very liquid, and executions are lightningquick in the most actively traded stocks. ISLD allows retail investors toessentially "make markets." For example, if the market in SAPE is 45 1/2bid for 1,000 shares, 1,000 shares offered at 45 3/4, a trader who wants togo long the stock (but does not want to take the offer) can bid for 1000shares on ISLD at a price of 45 9/16. Typically in less than a second, thetrader's order is represented on the Level II screen as ISLD. Because thetrader's bid is the highest available bid, he or she has the highestprobability of getting filled at that price. As soon as the trader isfilled, he or she can turn around and offer the stock at 45 11/16, for aquick scalp of an eighth.