| Jan-Feb 2006 |
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  Cover Story Exchanges Gamble On Multi-Asset Trading For-profit exchanges are expanding into multi-asset trading to make money for their shareholders. But can they pull it off with multiple matching engines? Electronic Marketplaces Reg NMS: Unintended Consequences Every new regulation has unintended consequences, but it's difficult to know what they will be until the regulation is implemented. Advanced Trading asked three industry experts to predict one possible unintended outcome of Reg NMS. Algorithmic Trading Algorithms a la Carte Broker-dealers are offering the buy side the ability to customize their own algorithms, but does the buy side want to be bothered? 2006's Innovative Algorithms The onslaught of new algorithms can leave traders wondering which end is up. Advanced Trading gets the latest from several algorithm providers. Data & Infrastructure Will Bottlenecks Break The Options Market? Rising messaging rates threaten to exhaust bandwidth and derail automated trading in the options market. Special Feature The Great Migration With all the technology and market-structure changes altering the industry, sell-side traders are finding greener employment pastures on the buy side. Research Watch Has the Fixed-Income OMS Finally Arrived? 2005 saw explosive growth in the adoption of third-party, fixed-income OMS applications, which leads to the obvious question: Have these products finally arrived? |
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From The Editor Winning Combination. Who Doesn't wish they had a crystal ball? As we enter the new year facing so many uncertainties, Wall Street is taking its best guess as to what the future of the exchanges will be, and everyone is trying to plan accordingly. Reader Advisory Board Guiding Advanced Trading
Market Intelligence Toronto Exchange Plans Derivatives Debut U.S. exchanges aren't the only trading venues attempting to build the ultimate exchange. Answer the Question Will regional exchanges be able to compete with Nasdaq and the NYSE? Bear Stearns Opens Fixed-Income Agency, Taps First Principle Crew Bear Stearns has launched a fixed-income agency execution service by tapping four executives from First Principle, a now-defunct division of Northeast Securities. Gasser Elevated to NYFIX CEO Bob Gasser, most recently CEO of NYFIX Millennium and president of NYFIX Transaction Services, has been named CEO of parent company NYFIX Inc. Stamos Leaves Piper for Tech Firm Former Piper Jaffray managing director Dean Stamos has left the firm. Trading Up Street Cred The Forest for the Trees Maybe I have been a part of the industry for too long? Maybe I have lost my cynicism and callousness, or have been listening to marketing pitches for so long that I am beginning to believe them. At The Close  Deja Vu for Bond ExchangesWith Archipelago announcing in October that it's going to trade listed corporate bonds on its electronic trading system, electronic bond trading systems providers might be a little nervous. |
