Buysiders Get Another Arrow in their Quiver
New IOI Tool Hits the Street
Traders Magazine, July 2008
The traditional indications-of-interest arena is getting a twist. To find contra-side liquidity, an entrepreneurial institution could decide to simply pop out a specialized IOI that reaches other buyside firms with more than $10 billion in equity assets. That, at least, is what Pulse Trading and Bloomberg Tradebook envision. The two agency broker-dealers recently formalized their co-distribution agreement for Pulse's BlockCross dark pool. Among other trading options, customers of either firm can send out IOIs to other buysiders based on orders they rest in BlockCross.
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