Fidelity Adds Conditional Orders to Service Bureau

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John Donahue, head of equities, Fidelity Capital Markets.

Debuted earlier this year, Service Bureau now boasts 15 of the 50 largest buy-side firms as clients. And because the service is free, it hasn't made a direct penny on any of them.

Service Bureau essentially provides a smart order router for any buy-side desk that wants greater control over its orders without having to invest the capital to build and operate one itself. Because it is a value-added free service of the technology division─not the broker-dealer division─it is only available to Fidel