VWAP your time is up

With Reg NMS and Mifid introducing both best execution and aggressive competition between traditional exchanges and alternative trading venues, and the industry march towards cross-asset trading, the current generation of execution algorithms will become obsolete. Therefore, are financial institutions spending millions on already antiquated technology? A number of factors will ensure 2008 witnesses a new cycle of innovation.

Liquidity fragmentation

The fragmentation of liquidity in Europe will

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