Brokerage

Transaction taxes result in more volatile markets, wider bid-ask spreads, greater market impact and a decrease in volume. Those are key findings of a recent study conducted jointly by the Bank of Canada and Rutgers University into the impact of a transaction tax administered by the State of New York until 1981.

ConvergEx Group is now offering an automated trading option for buysiders who want to trade before the equities mart opens.

On Jan. 15., nearly 300 attendees gathered in New York to honor the award winners for Traders Magazine's second annual "Wall Street Women: A Celebration of Excellence."

Since 2005, Perritt Capital Management's George Perritt has been building up a specialty: trading in large blocks, which now accounts for 35 percent of its activity. Here’s how the buysider manages it.

Look out, Credit Suisse. Barclays is closing in on U.S. dark pool supremacy. Simply put, Barclays' LX dark pool is now the second largest in the United States, behind only Credit Suisse's longtime leader, Crossfinder.

Japan is actively devaluing its yen. Other nations threaten to retaliate, in kind, to stimulate their own economies through cheaper exports. A global currency war could wreak havoc on many smaller economies and stall out the budding recovery under way in larger ones ... or not.

The New York Stock Exchange is taking the wraps off a five-month-old system that allows floor traders to effect crosses in blocks of 10,000 shares or more, using electronic broking devices.

Liquidnet told Traders Magazine last month that the platform it has been working on for more than a year to allow trading of shares between privately held companies and institutional investors is now "substantially complete."

The institutional equities business is moving to a one-touch coverage model, but the buyside's participation is optional. That's the message Brian Fagen, Deutsche Bank's head of North American execution services, sent to attendees at last month's TradeTech conference in New York, according to conference-goers.

Two Sigma Securities, an affiliate of money manager Two Sigma Investments, and Goldman Sachs have boosted their shares of the retail order flow pie among brokers’ brokers in the past year, according to data aggregated by Thomson Transaction Analytics.