Buyside firms need to leverage technology to stop writing checks to HFT firms with clients's money.
IMC Chicago LLC, just finished its takeover of Goldman Sachs Group Inc.s NYSE unit, giving it rights to manage buying and selling of dozens of stocks including prominent ones like International Business Machines Corp., Verizon Communications Inc. and Visa Inc.
Credit Suisse's Trading Strategy Group reported that in August off-exchange trading hit a monthly average of 36.45 percent in August (month-to-date). In July that figure was 37.16 percent.
Bats Global Markets Inc. is in negotiations with U.S. regulators to settle accusations that Direct Edge, the stock exchange operator it bought in January, gave unfair advantages to high-frequency traders, according to a person familiar with the matter.
Continued adoption of electronic FX trading is increasing demand for performance measurement while providing the necessary execution data to calculate it.
A proposal to use the virtual currency for brokerage fees could be too tempting for those in the financial arena.
The buyside can now grade the performance of its brokers, evaluating how the services they provide-such as research, management access or execution-stand up to one another.
Order and execution management systems vendor Eze Software Group will incorporate Markit's transaction-cost analysis product into its OMS.
Institutional brokerage S.J. Levinson & Sons and vendor Charles River formed a partnership to distribute Levinson's transaction-cost analysis software through Charles River's trading and portfolio management system.
ConvergEx Group has begun to offer clients detailed transaction-cost analysis in real time for every child order sent, not just the initial order.