Summer 2005 Advanced Trading

May the Best System Win
The New York Stock Exchange may be hedging its bet on electronic trading by seeking to acquire Archipelago's all-electronic platform. But, while Nasdaq intends to combine with INET, the NYSE must decide if it will merge its trading platforms.

Traders Talk Predictions and Perils at TradeTech

Research Watch
Hedge Funds Warm To Trading Tools
Hedge funds are interested in tapping direct market access and algorithmic trading tools, but they're not sure how to select and use them.

Is This the End of the Floor?
NYSE-Archipelago Merger: If the New York Stock Exchange and Archipelago merge, will the two entities remain separate or will the NYSE floor become a thing of the past?

So Much for Fragmentation
With the merger of Archipelago and the NYSE and the acquisition of Instinet (Inet) by Nasdaq, the over-crowded ECN field of five years ago suddenly looks smaller. Much smaller.

At the Close
The New Toll Collectors

A Note From The Editor

Electronic Marketplaces
Early Dawn
The NYSE is considering opening early to capture additional trading volume, and Archipelago may provide the venue.

Special FX
Electronic foreign exchange platforms are growing in popularity. But which trading model will prevail?

Algorithmic Trading
Algorithmic Arms Race
With everyone from the postman to your next-door neighbor offering algorithms, what's a buy-side firm to do?

Algorithmic Trading Directory
This quarter's Algorithmic Trading Directory includes information on 20 different algorithm providers, including a listing of the many algorithms they offer, their delivery channels and the future direction of their service.
Download as pdf[ 5.7MB]

Data and Infrastructure
Power Shift and the OMS
With links to electronic markets and broker algorithms, OMSs are a hub for buy-side traders. But are the trading apps trying to do too much?

BOX Moves Ticker to Linux
With minor disruptions and transparency to traders in mind, The Boston Stock Exchange migrates its ticker processing system to Linux.

Bear Upgrades Data Apps
Bear Stearns has deployed integrated data management technology from GemStone

Market Intelligence
--ISE Goes Public
--A New Galax-C At the CME
--CIBC Taps BofA Securities' Algorithms
--How Will the SEC Rule on Soft Dollars?
--Looking to Recruit Traders?
--Troise Leaves ITG for Lehman ...
--... And Larkin Replaces Him
--Quick Releases --Trading Up