Commentary

David Weisberger
Traders Magazine Online News

Stop the BS & Promote Real Transparency!

In this shared blog, David Weisberger says a recent WSJ article is wrong and that traders do need to purchase faster and more comprehensive market data to avoid being fined for violating "Best Execution" obligations.

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More Articles - Commissions/TCA

Once Burned, Twice Shy

Continued adoption of electronic FX trading is increasing demand for performance measurement while providing the necessary execution data to calculate it.

Mixing Soft Dollars and Bitcoin?

A proposal to use the virtual currency for brokerage fees could be too tempting for those in the financial arena.

Buyside Can Now Grade Its Brokers

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.

EZE Adds TCA

Order and execution management systems vendor Eze Software Group will incorporate Markit's transaction-cost analysis product into its OMS.

Levinson TCA via Charles River

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 Offers Real-Time TCA on Child Orders

ConvergEx Group has begun to offer clients detailed transaction-cost analysis in real time for every child order sent, not just the initial order.

Volume and Commissions Seen Up

There is only one way to go when things hit rock bottom: up.That's the view on U.S. equity trading commissions and volume this year. One consultancy forecast that commissions will rise 9 percent and volume move up 6 percent.

Firm58 Offer Free CSA to Small Firms

Firm58 now offers commission-sharing arrangement management services free to small and midsize brokers who have 10 or fewer clients in their existing CSA or soft dollar programs.

Commissions Continue Spiral

Commissions paid by U.S. institutions dropped for the third straight year, down 6 percent for domestic equities, according to a recent Greenwich Associates study of the buyside.

Hitting the TCA Sweet Spot

The cry from the buyside has been that there are too many brokers pitching products that are too similar, particularly agency shops that offer standard execution and check-the-box research. But given the buyside's increased hunger for more analysis of trades, one agency broker might have found itself in a sweet spot. Abel/Noser offers respected trade-cost

High-Touch, Research Up In Survey

High-touch and research-driven trades rose last year, but the Street also felt the pain of a 12 percent drop in commissions, according to a recent Greenwich Associates study of the buyside.

The Right Mix

Once equity trading went electronic, the smart money knew it was only a matter of time before machines began making decisions that were once the domain of the trader. For the buyside, it has always been essential to know which broker to choose, based on past performance and a sellside firm's expertise. Today, the same rules apply-except that man's best friend on the buyside isn't the person on the other end of the phone or IM. It's becoming more and more the computer on the desk.

More Firms, More CSAs

The popularity of commission-sharing arrangements continues to grow among institutional money managers looking to pay for research. Today about three-quarters of long-only shops are using CSAs, and that percentage is expected to grow in 2011, according to a recent study by TABB Group.

New Horizons At Munder

Dennis Fox, head trader at Munder Capital Management of Birmingham, Mich., is in the midst of integrating his firm's trading system with its recent acquisition: Integrity Asset Management of Rocky River, Ohio.

TradingScreen Adds BECS and Clients

Looking to juice its trade-cost analysis technology and client list, TradingScreen acquired Citi's multi-broker, post-trade TCA product BECS for an undisclosed price.