December 2006
 Cover Story The Buy-Side Dilemma: Research vs. Execution Commission-sharing arrangements are a big trend in the U.K. Now, the buy side is evaluating CSAs as a way to pay for research and consolidate their trading relationships in the U.S. Trading Strategies, Swapping Opinions What matters to buy-side traders? Simplicity in technology, responsiveness from service providers and, yes, relationships, which, on a scale of one to 10, still rank a 10. A view from the Buy Side Liquidity Right Under Our Noses: The Benefits of Smart Posting Liquidity issues have been at the forefront of equity market structure debate since decimalization. Industry Voice Much Ado About Nothing Sarbanes-Oxley is only partly to blame for the decline in foreign companies listing their stock on U.S. markets. Algorithmic Trading Algos Dip Into Multiple Dark Pools In search of hidden liquidity, EdgeTrade and ITG introduce algorithms that employ a smart-posting strategy to fan dark books. Research Watch Regulation NMS: Preparing for Impact As we approach the Regulation NMS implementation deadline, brokers and exchanges are faced with the challenge of utilizing technology in order to become compliant while adapting to the evolving marketplace. |
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From The Editor Dodging NMS? Each time a new dark book is launched, I can't help but think that one way the industry is preparing for Reg NMS is by avoiding it. Market Intelligence Chicago Hope The windy city makes a splash in the derivatives market with the merger of the Chicago Mercantile Exchange and the Chicago Board of Trade. Citi's Richardson to Head BeX The Boston Equities Exchange (BeX) hired former Citigroup managing director Thomas Richardson as its new president. Futures Crossing to Wait Despite recent changes in the futures market, the futures exchanges shouldn't expect competition any time soon. Dark Books: The Next Chapter Two new dark books have been created to link venues and decrease market fragmentation, but will they be the answer the buy side is looking for? Street Cred Market Orders Are Da Bomb Limit orders were da bomb. But in a post-Reg NMS world, market orders rule. At The Close  The New Soft DollarsHave you noticed that no one in the industry uses the term "soft dollars" anymore? |
