Buyside Trader Takes Aim At Sellside's Gravy Train'
Traders Magazine, September 2004
The traditional sellside execution broker is having difficulty competing for institutional order flow. ECNs are increasingly the axe in stocks as algorithmic models fill orders once destined for the sellside's natural liquidity. That was the controversial message from a panelist at an algorithmic trading conference hosted recently by ITG in New York City. Blair Adams, a senior trader at American Century, told the packed event that his firm uses electronic platforms for 90 percent of its OTC business. He says natural liquidity has disappeared.
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