Global Trading: More Ways Than Electronic!
Traders Magazine, December 1997
Electronic trading is not the only way to handle an international order. That's the message from Doug Atkin of Instinet International, an affiliate of Instinet. Another way to buy or sell an international stock is to break up an order. That order is then traded in separate pieces: electronically, on exchange floors and upstairs, where an Instinet sales trader, acting as an agenct, calls institutions that might be willing to take the other side.
But anonymity is clearly very important. "An [anonymous] cross is the best way to do the trade," said Bob Russell, senior vice president of new business at New York-based ITG Inc. Even so, not all orders handled anonymously will match.
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