In the first study, TABB
explains how the Investment Industry Association of Canada (IIROC) is both facilitating and impeding high-frequency trading strategies as it strives to meet its mandate of "Protecting Investors and Fostering Fair and Efficient Capital Markets across Canada.
Unfortunately, the cookie-cutter websites are not going to provide the traffic or appeal that you desire," states Greg Warren, CEO of TABB
Going directly to the buy side to learn if a combined system, or OEMS, could meet their needs, TABB
Group surveyed 52 buy-side firms to gauge how they saw current OMS and EMS offerings, including proprietary systems, as well as trends and analysis covering OMS and EMS usage and functionality.
Our clients constantly ask us to provide projections on areas that impact their business, primarily market volumes, commission rates, electronic trading usage and high frequency trading numbers," says Adam Sussman, TABB
partner, director of research and author of the new report.
COVENTRY Marshall 6, Osbourne 6, Ward 7, Dann 6, Fox 6, Mifsud 6, Hughes 6, Doyle 7, TABB
8, Thornton 7, Best 7.
Based in New York, she reports to Michael Ross, partner and head of sales and marketing at TABB
Group, the research and consulting firm focused exclusively on capital markets.
But according to Matt Simon, a TABB
senior analyst and author of the new report, as well as "US Futures Market: State of the Industry 2012" published in October, there is good news: the new landscape will favor larger FCMs that provide investors with cutting-edge execution technology, efficient ways to manage and deploy capital and improved customer service.
Trading outside the lit order books offers legitimate value and advantages, says Miranda Mizen, a TABB
principal, director of equities research and author of "A Spotlight in the Dark: An Inevitable Debate," but the industry lacks consensus about its cause and effect.
Investment banks no longer have the "axe" for information," says TABB
research analyst Henry Chien.
The most-valued features such as anonymity and expertise stand to be compromised as the sell side will be forced to explore new ways to do more with less," says Cheyenne Morgan, a TABB
research analyst who produced the study with Miranda Mizen, director of equity research.
According to Alex Tabb, a TABB
partner who wrote "Slaying the Hobgoblins of Cloud: Unlocking Orchestration," cloud computing's limitless real-time scalability has been at odds with the operational realities of today's capital markets institutions.
If not, it'll cease to exist, warns Adam Sussman, a TABB
partner, director of research and the report's author.