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Trouble Brewing For Direct Access: Will the Lambs and Lions Co-Exist?

Traders Magazine, March 2002

Brian O'Connell

The drive to integrate direct access trading technologies into institutional markets is heating up, but software developers are finding themselves fighting battles on two fronts. On one side, firms like Sonic Trading, UNX, and Blackwood Trading must convince hedge funds and other institutional traders that direct access tools can work effectively on buyside trading desks. They must convince institutional clients that these tools will help them as much as they have day traders and other retail clients. Then there's the bigger problem: Convincing institutional traders that direct access vendors have their best interests at heart. Can these vendors change their stripes after working with day traders, the nemesis of the institutional community?

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