Commentary

Robert Schuessler
Traders Magazine Online News

A Smarter Monkey

In this contributed piece, TIM noted that some traders do better than others when using data that has been run through certain analysis - that is, have used some form of machine learning to assist them.

Traders Poll

In his first public speech, SEC Chair Jay Clayton deviated from his prepared remarks and offered his own "off the cuff" comments on market issues. Do you like this change of pace?




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February 1, 2003

A Beantown Player in Upstairs Trading

By John A. Byrne

Adams, Harkness & Hill, a Nasdaq research, sales and trading boutique in small, mid-cap and emerging growth stocks, is planning to open an upstairs desk staffed by three pros.

The desk, earmarked for the firm's Boston headquarters, could enable it to satisfy the buyside's demand for more market critical information. Adams currently trades listed stocks on a strictly agency arrangement with floor brokers on the Big Board.

Under the new arrangement, which is expected to be activated later this year, Adams could cross NYSE stocks and commit capital. It would still continue to send some trades to the NYSE floor.

"[An upstairs desk] is what buyside clients want now more than ever," John Tesoro, Adams' head of equity sales and trading told Traders Magazine. He said many buyside desks collect a vast amount of market sensitive information, which is usually synthesized by the portfolio managers and analysts. "Buyside desks are focused on fundamental information flows as well as merchandise flows," Tesoro said. "If we can provide a cohesive desk in listed as well as OTC names, that's potent value added."