Commentary

Elaine Wah

Modern Markets, Modern Metrics - A Blog By IEX

In this blog by IEX's Elaine Wah, the newest public exchange looks to refute public claims that the metrics it uses are designed to inflate its own volume numbers and mislead people.

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Do you think it's a good idea to conduct an access fee pilot to assess the pricing models used by many trading venues?

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Should have had a pilot program a long time ago.

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December 14, 2007

InfoReach Rolls Out Routing Service

By Michael Scotti

InfoReach last month launched a simple, bare-bones trading application that routes orders from the buyside to the sellside. The Web-based service, called brokereach, provides a low-cost routing service targeted to buyside shops currently using IM, e-mail, spreadsheets or the phone for both single-stock and list trading, according to Allen Zaydlin, InfoReach's CEO. About 25 brokers are already on the system, he said.

Brokereach is attractive to firms, Zaydlin said, because there is no monthly connection fee. Consequently, it makes economic sense for the buyside to use the routing network for its less-used brokers. Orders are routed to the sales trading desk, the program desk and the algorithmic trading desk. The system does not interact with the marketplace with direct-market-access technology. Zaydlin said he also expects demand for the real-time product from firms looking for a backup to their main routing system, given that connections are free. "Sometimes it takes a long time-months-to set up a FIX connection," he said. "This is a next-day answer."