E-Crossnet To Offer European Crossing Exclusively For Buy-Side Managers


London--The announcement last month by Barclays Global Investors and Merrill Lynch Mercury Asset Management of their intention to build an equity crossing network for UK and European equities heralds the arrival of a low-cost, low-impact transaction mechanism exclusively for buy-side firms.

The two investment management firms have each earmarked £5 million to build the new network, dubbed E-Crossnet. The new service is slated to go live in the first quarter of 2000.

E-Crossnet won't be the fir