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Handing Over the Keys

The Sellside Puts Options Trading on Buyside Desktops

Traders Magazine, March 2008

Nina Mehta

As institutional investors come to dominate options trading, a growing number are asking their brokers for electronic capabilities to do the trading themselves. That has some brokers scrambling to put direct-market-access tools and execution algorithms on buyside desktops. "As brokers roll out better tools, more people join the marketplace, and exchanges present incentives to provide liquidity, institutions will be able to trade more electronically," says J.P. Xenakis, vice president at Goldman Sachs Electronic Trading. "It's cheaper and it's anonymous." Big-lot traders, he adds, will soon begin asking for more-sophisticated quantitative tools.

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