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The Cost Squeeze Continues On Wall Street

Traders Magazine, June 2002

Brian O'Connell

The so-called implicit costs on an institutional trade comprise the largest proportion of the overall costs of an order, according to research published by ITG's POSIT. Those costs are under attack in an era of razor-thin profit margins. With institutional commissions hovering around $0.05 per share, the buyside is demanding more efficiencies. The sellside, handicapped by penny trading, is also feeling pressure for cost savings.

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