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Ronald Jordan
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Understanding Your Data is No Longer Optional

In this contributed article from Global Markets Advisory Group, the advisory discusses the importance of data and how organizations should augment existing skill sets and capabilities to add a data-focused perspective to their operating fabric.

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February 1, 1998

Merger Rumor

By John A. Byrne

With smaller profit margins hurting the payment-for-order-flow business, some industry experts are waiting for the first big merger among major Nasdaq wholesalers. Already, rumors are swirling on Wall Street that Nasdaq powerhouse Mayer & Schweitzer and Jersey-City based competitor Herzog, Heine, Geduld may merge.

According to sources close to Herzog's trading desk, Mayer is negotiating a purchase of Herzog. The sources said that the acquisition was not imminent, but expected a deal to be completed by year's end.

E.E. "Buzzy" Geduld, president of Herzog, said there was no truth to the rumor. A Mayer spokesman had not returned calls at press time.

A combined Mayer and Herzog would be a formidable giant. Mayer and Herzog were ranked first and second, respectively, in the AutEx year-end rankings of Nasdaq and over-the-counter volume for 1997. Mayer, a New York-based Charles Schwab Corporation affiliate, had an advertised trading volume of 12.4 million shares, according to the AutEx 1997 rankings. Herzog had a 1997 advertised volume of 11.08 million shares.