  Craving Cross-Asset Platforms? Hedge funds are pushing the envelope into multi-asset trading, but will traditional buy-side asset managers follow suit?
Algorithmic Trading Buy Siders Toe Dip With FX Algorithms After taking the equities market by storm, algorithms are beginning to surface in the foreign exchange (FX) market. Data & Infrastructure Milliseconds Matter In algorithmic trading, speed counts, and the fastest way to get to the market is to already be there. Research Watch OMS: Breaking Down Barriers New order management systems that include enhanced trading and portfolio management functionality are reducing entry barriers to electronic trading. Electronic Marketplaces Credit Derivatives Create Back-Office Mayhem As trading volumes in credit derivatives climb to an all-time high, traders try to figure out how to clean up the mess they've created in the back office. Street Cred The Midtier: Betwixt and Between Being stuck in the middle is challenging. Large firms have size and reach. Small firms have flexibility and low overhead. What does the midtier broker have? At The Close  How Neutral Is Your OMS?Broker neutrality is a phrase that providers of order management systems (OMSs) and execution management systems like to throw around to convey that customers are free to route orders to any broker or execution venue they choose. But the meaning of broker neutrality is starting to get blurry. |
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FROM THE EDITOR A Note From The Editor You may have read my editor's note in Wall Street & Technology last month in which I announced that I was leaving CMP Media. I titled it, "Breaking Up Is Hard to Do." Market Intelligence Daiwa Charts Neutral Course Daiwa Securities America, a U.S. rendition of its Japan-based parent, prefers to model its business on Switzerland's ideology rather than that of either the United States or Japan. CHX Seeks OrderRouting Partner With every regional stock exchange gearing up for Reg NMS, the Chicago Stock Exchange (CHX) is looking at potential partnerships with technology companies and brokers that offer smart-order routing, according to Dave Herron, the exchange's CEO. Instant Algorithms Pivot Solutions, a Boston-based instant messaging and electronic trading network that was spun off from Eze Castle Software, recently added algorithmic trading capabilities to its AOL IM front end. Brokers Tap OMSs To Deliver Analytics The race to integrate brokers' pre-trade analytics into order management systems (OMSs) is heating up as buy-side customers demand the functionality. Are Regional Stock Exchanges Seeking an Alternative to ITS? Regional exchanges are considering smart-order-routing technology to help them comply with Reg NMS' new trade-through rule, which requires execution venues to route orders to the market displaying the best price. ITG to Acquire OMS Provider Macgregor Eyeing the buy-side community's demand for tying electronic execution and cost-measurement tools into the rest of the portfolio management process, Investment Technology Group (ITG) announced plans to acquire Macgregor, a provider of buy-side trade order management systems (OMSs), for $230 million in cash. The Back End of Algo Trading Without the appropriate protocols and processing infrastructure in place, algorithmic trading can be challenging. BAS Evaluates ETS Group Banc of America Securities hired former Nasdaq corporate strategy senior executive Bill Harts as a consultant to assess the future direction of its Electronic Trading Services (ETS) group, according to a BAS spokeswoman. Citi Hires Chief Software Architect Jeremy Lehman, formerly head of technology for the investment management group at Thomson, joined Citigroup as chief software architect for global equity technology. Trading Up
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