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The New Sales Trader

Traders Magazine, January 2005

Anthony Conroy

Block trading volume, as traditionally defined, has dropped off precipitously in the past four years. Indeed, at the New York Stock Exchange it showed no signs recently of a comeback. Block trading accounted for 31 percent of published NYSE volume for December, below the 2004 average and the same total as last July. However, this is not a bad sign for the sales trading desk. In fact, the best sales traders are winning over clients who trust they can take a large order and profitably slice it up and obtain best execution - at an acceptable risk level. Sales traders today may not feel like masters of the universe. But as masters of liquidity, they can thrive.

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