Commentary

Marianne Brown
Traders Magazine Online News

The Surprising Factor Financial Firms Need to Invest in To Accelerate Growth

When it comes to people, a firm's success relies on more than just the top contributors to the bottom line, according to FIS. In its latest report, shared with Traders Magazine, the firm says it actually found firms that are prioritizing investments in digital expertise are growing nearly twice as fast as their peers.

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May 31, 2002

Exchanges and ECNsStart Dating Game

By Staff Reports.

Several stock regional exchanges want agreements with an ECN, industry sources say, and the American and Philadelphia stock exchanges are two that are said to be in the hunt.

A published report said Philly is working on a deal with GlobeNet ECN. A spokeswoman for Philly confirmed that GlobeNet is seeking a Phlx trading permit.

The courting has gone both ways. In the past few months, Philly has approached several ECNs with a competitive package, which included market data revenue sharing and other services, according to industry sources. Philly said that both sides are interested in each other's business.

The name of the game recently for ECNs has been finding a way to outflank rival Nasdaq. So ECN officials have been talking to exchanges in which they can print trades without going to Nasdaq. The latter continues to insist that trades away from it often are executed in an environment without adequate due diligence.

For the Philly, finding additional sources of order flow may be critical to its survival. It could help bolster flagging seat prices which have tumbled about 35 percent in recent weeks. A handful of seats are said to be now leasing for $1,500 each. That's the price seat owners would pay to cover technology fees if their seats were not used.