Cover Story: Keeping Watch
Traders Magazine Online News, May 7, 2012
“I’d like to see the whole marketplace doing this,” Chris Concannon, a partner at Virtu Financial, a registered market-making firm, told Traders Magazine. “It’s the next wave of change and evolution. It’s an expansion of transaction cost analysis. Now, we’re going to do TCA at the counterparty level. And I’m okay with that.”
Chris Concannon, Virtu
Concannon says he welcomes an analysis of the way he provides liquidity. “Tell me how I do,” he said, “and I’ll adjust. We provide customized liquidity. I can go bigger. I can narrow my spread. I can do mid-point. We have very customizable liquidity. So, I want to be scored. Everyone should be scored. We are headed into a world of TCA on steroids. And it’s a good world.”
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