Crossing Networks/ATSs Channel

Cover Story: Bridging the Gap

Transaction-cost analysis is in the process of evolving into a set of powerful tools providing real-time information and decision support capabilities that are expected to give traders a leg up to find the most liquidity at the best price.

Markit Acquires Analytics Firm QSG

Financial information services company Markit announced on Wednesday it has acquired Quantitative Services Group, allowing it to use the equity research firm to create new tools for traders and investment managers.

Bloomberg Expands Independent Research Offering

Independent research is taking on a bigger role at Bloomberg Tradebook. The agency brokerage has nearly doubled the number of “indie” research providers it offers to institutional clients.

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Ax ATS Launches First Call Auction

A former block trading executive is hoping to replicate the action in the upstairs market electronically.

PDQ Brings Auctions to ATS

Chicago-based alternative trading system operator PDQ introduced an ATS that deploys an auction model that offers a pause before orders are filled.

Keeping Pace

In 2011, electronic trading and fragmentation drove the Canadian equities market into the 21st century-at least by U.S. standards. As a result, regulators will take center stage in the coming year to ensure the Great White North's markets stay accessible, secure and true to the Canadian spirit.

Knight Outlines Restructuring Plans

Knight Capital Group is in the process of restructuring its institutional sales and trading division. Chief executive Tom Joyce told analysts and investors in late November that the firm is "rethinking and reconfiguring its offering" to money managers.

Bit Players

High-frequency trading may have transformed the country's stock exchanges into ultra-fast, high-volume marketplaces, but it has had little impact on U.S. options exchanges. Five years into the penny tick/maker-taker revolution, high-frequency traders are bit players at best in options.

On The Move

Here are recent hires and promotions in the equities trading world as Wall Street pros make that move, right now. Read about how Mizuho Securities USA added three sales traders, Fox River got a new managing director and Rosenblatt created a new position for a director of visual analytics.

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