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Know Thy Costs

Traders Magazine, November 2002

Editorial Staff

Bad performance numbers and regulatory pressure are forcing buyside desks to pay more attention to trading costs. Desks that are looking beyond brokers' commissions are building systems or are subscribing to third party offerings. The goal is to measure their implicit - timing and opportunity - costs. Armed with better information, they can then revise their trading strategies. Among the top providers of transaction cost analysis are Plexus Group, which was acquired by J.P. Morgan Chase this summer, Elkins & McSherry, a unit of State Street, Instinet, ITG, Abel Noser and BECS.

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